November 15: Muniland Snaps

November 15, 2011

As Europe’s sovereign debt troubles persist, Wells Fargo Securities took a look at each U.S. state’s exports to Europe as a percentage of gross state product (GSP). Utah appears to be the most exposed, with 5.5 percent of GSP going to Europe. Source: Calculated Risk

Good Links

Bloomberg: China has a hot muni market

Stateside Associates: 50 state legislative roundup

WSJ: 10-year triple-A munis yielded 2.54%, versus 1.97% for the 10-year Treasury

Bloomberg: Harrisburg bows to state authority after political process failed Harrisburg City Council’s IRS challenge could leave its legal advisers holding the bag

Bond Buyer: “The bankruptcy filing is credit negative, given the uncertainty it creates”

Courier Post Online: Collingswood, NJ is still junk, according to Moody’s

Bloomberg: Wall Street slows and New York state’s revenues shrink

Bond Buyer: Federal appeals court says Merrill Lynch disclosure on auction rate securities was “adequate”

@Twitter Talk

Weld for Birmingham @SecondFront Weld for Birmingham   “Municipal bankruptcies are rare. Since November 1981, fewer than 40 local governments have sought to restructure in bankruptcy.” -Bloomberg

Mike Stanton @MikeStanton1891 Mike Stanton   Using the bully pulpit! Assured to Reconsider Insuring in States With No Bankruptcy Framework –…

IpreoMuni @IpreoMuni IpreoMuni  Muni volume continues surge. Here’s this week’s updated muni new issue calendar:

Michael Pietronico @MillerTabak Michael Pietronico   Municipal bonds will underperform Treasuries in the near term due to excess supply – the market should rally once supply clears..

Tim Maniccia @tmaniccia Tim Maniccia  IL Lawmakers punt on pensions as $85B liability grows.

Barrett and Greene @GreeneBarrett Barrett and Greene   Meaningful debate on CA prop tax = hard w/out agreement on underlying facts… Read more:…

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