Municipal Market Recap and Outlook 3rd Quarter 2009 -- Economic outlook with information concerning our economy, along with inflation, interest rates, supply and demand, and credit conditions.
| Investor |
Revenues in Recession, The Challenge for State Governments -- Explains how sensitive government revenues are to changes in economic activity and how these changes are likely to affect the fiscal condition of the states in the future.
| Investor |
Build America Bonds and the Efficiency of Tax-Exemption -- Discusses the tax efficiency of Build America Bonds.
| Investor |
California Budget Woes - What's Next? -- Explains the state of the CA state budget.
| Investor |
Build America Bonds -- Explains Build America Bonds, a new type of security created by the American Recovery and Reinvestment Act.
| Investor |
The American Recovery and Reinvestment Act of 2009 -- Describes the ARRA 2009 and how it can benefit state and local governments.
| Investor |
Briefing Paper: Market Volatility: Gaining Long-Term Perspective on Short-Term Trends -- This paper defines volatility, illustrates how it can be measured, places recent market experience in the context of historical trends, and suggests how this perspective might help investors maintain a long-term focus.
| Investor |
State/Local Governments and the Great Depression -- How did state and local units of government fare during the Great Depression?
| Investor |
Understanding Discounts and Premiums in Closed-End Funds -- A discussion of market factors that may contribute to premiums and discounts in closed-end fund pricing
| Investor |
Dividend Growth Investing Whitepaper -- A Research Report illustrating Why Dividends, Why Now (updated through 9/30/09).
| Investor |
Riding the Yield Curve in Up and Down Markets -- Explains the municipal strategy of riding the yield curve when investing in intermediate bonds.
| Investor |
The Case for Equity Investing -- A research report that provides a historical perspective on market performance from 1926 (the inception of the S&P 500 Index) through the end of 2008. It also examines the potential benefits of including equities within a diversified portfolio.
| Investor |
Premium Bonds -- This piece explains the potential benefits of purchasing premium bonds in a rising interest rate envioronment.
| Investor |
Briefing: Asset Allocation - Risk and Reward 1929-2008 -- A historical perspective of diversification that includes a chart with a wealth of annual return statistics and measures for a range of asset class mixes (stocks, bonds, cash) plus an illustration of the range of returns produced by those asset class mixes.
| Investor |
Briefing: Case for Diversification: A Hypothetical Historical Example -- This briefing paper shows the experience of three hypothetical investors who followed three very different investment strategies - one who always bought the previous year's best performing asset class, one who always bought the previous year's worst performing asset class and one who bought a diversified portfolio - over a 20 year period.
| Investor |
Waiting to Extend -- Quantifying changes in interest rates vs bond investments.
| Investor |
Understanding Tender Option Bonds and Inverse Floating Rate Securities -- Reviews inverse floaters and tender option bonds.
| Investor |
Two Is Greater Than One-2009-At A Glance -- A research piece that reviews the benefits of a diversified portfolio that includes both municipals and equities.
| Investor |
Reversal of Fortune - Mixing Stocks and Bonds -- Explores the affect of timing of returns on asset values when combining equities and long-term bonds.
| Investor |