Municipal Market Update
 DocumentAudience
Asset Class Perspectives 4Q11 -- Provides a review and outlook for U.S. and non-U.S. equities, municipal and taxable fixed income and real assets. Investor
Contagion and the Benefits of a Diversified Municipal Market -- The diversity of buyers and issuers of municipal bonds, and the muted role of banks in supporting municipal debt, may explain why we do not see evidence of contagion in the municipal market. Investor
Municipal Market Recap and Outlook 4Q11 -- Economic outlook with information concerning our economy, along with inflation, interest rates, supply and demand, and credit conditions. Investor
Insights - January 2011 -- Contains Keith Hembre's Economic Insights and investment opportunities in various asset classes. Investor
Economic and Financial Market Outlook - January 2012 (Hembre) -- Keith Hembre changes and outlook in the markets. Investor
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There can be no assurance that any investment or asset class will provide positive performance over any period of time. Investing in municipal bond products involves risks, including, but not limited to, interest rate risk, the risk that interest rates will rise, causing bond prices to fall; and credit risk, the risk that an issuer of a municipal bond will be unable to make interest and principal payments when due. High yield or lower rated municipal bonds are subject to heightened credit risk and risk of default. As with any investment, loss of principal is a risk of investing. Please consult a tax advisor regarding the suitability of municipal investments in an overall portfolio. Income may be subject to state and local taxes and the alternative minimum tax.