Municipals

[ __________ ] Is The New Subprime

A few weeks before the darkest days of the financial crisis in September 2008, economist Nouriel Roubini said: “we have a subprime financial system, not a subprime mortgage market.” Then the wheels came off: Fannie and Freddie overtaken by Treasury, Lehman failed, Merrill overtaken by BofA, WAMU overtaken by Chase, Wachovia overtaken by Wells, AIG

3 CFAs Discuss Consumer Rate Impact of Muni Defaults

When I was writing my 2011 rate outlook last month, I asked some former colleagues—CFA types much smarter than me—for their views on what a possible municipal bond implosion might mean for mortgage backed securities (MBS). I asked because consumer mortgage rates are tied to MBS, and I was testing a theory on whether MBS

3 CFAs Discuss Consumer Rate Impact of Muni Defaults

When I was writing my 2011 rate outlook last month, I asked some former colleagues—CFA types much smarter than me—for their views on what a possible municipal bond implosion might mean for mortgage backed securities (MBS). I asked because consumer mortgage rates are tied to MBS, and I was testing a theory on whether MBS