Tag Archives: Illinois

Rieger Report: Illinois G.O.s on the Edge

The recent ratings downgrades by both Moody’s and S&P Global Ratings have placed the State of Illinois general obligation bonds on the edge of becoming junk.  As of this writing, the ratings are Baa3/BBB-/BBB by Moody’s, S&P and Fitch. The fiscal struggle endured by Illinois has indeed been a long one, now yields for Illinois G.O.s have Read more […]

The Rieger Report: Munis Face an Unholy Trio

Three storms are converging on the municipal bond market: supply, interest rates and bad news headlines – a powerful trio of bad news for the municipal bond market. The S&P Municipal Bond Illinois Index is down 1.55% for month-to-date and is the worst performing state index for the month so far.  The index is down 1.16% Read more […]

Uncertainty, a Four Letter Word for the Municipal Bond Market

The uncertainty of the future of Puerto Rico municipal bonds continues to weigh on the municipal bond market. Bonds in the S&P Municipal Bond Puerto Rico Index have settled into an average price of just over 50 cents on the dollar with the low point of 47.27 on July 8th 2014.   The index tracks over Read more […]

The Rieger Report: Boring is good! Municipal Bonds Return 9.26% in 2014

The municipal bond market steadily marched upward in 2014 and the S&P Municipal Bond Index ended up 9.26%.  The main ‘drama’ during the year came from the Detroit bankruptcy proceedings and wild swings of prices of bonds issued by Puerto Rico. Overall, low new issue supply and relatively attractive tax-free yields certainly helped keep the supply demand equilibrium to the demand side. Investment Read more […]