MuniLand

Half of muniland is owned by institutions, the other half by retail investors. Graphic source via MSRB.

Good Links

IMF: Study: Treasury market directly causes changes in the municipal bond markets

Bloomberg: Raise state income taxes and demand for tax-exempt municipal bonds soars

Crains New York: Under the gilded hood, the muni-bond world has long been a sordid place

FT: Wells Fargo pays $148 million to settle bond-rigging case

FT: Fabulous municipal bond fund returns, with a few small storms on the horizon

Bond Buyer: Trade association updates muni primer ten years after last revision (available in Kindle, too)

Reuters: Insolvent Harrisburg appeals federal judge’s rejection of bankruptcy status

Bloomberg: BONY Mellon digs into old Alabama law to try and get Jefferson County’s bankruptcy dismissed

Bloomberg: U.S. Senator asks Amazon to halt its price-checking promotion application

@Twitter Talk

JimKnickman James Knickman  Do we spend too much on health care, too little on social services, and end up with poor health outcomes? nyti.ms/sDEMhc

@MillerTabak Michael Pietronico   today’s 30 day visible supply of a little over 8 billion will do little for those hoping for lower municipal bond prices

@TheBondBuyer The Bond Buyer  Muni Bond Funds See Largest Inflows in Almost Two Years bit.ly/twO3xC

@AnnHollingshead Ann Hollingshead   Why Jon Stewart is Right about Taxes…Amazon.com and California‘s budgetary woes financialtaskforce.org/2011/12/09/why…

@TheEconomist The Economist   If Detroit gets taken over by Michigan, it will be the largest American city to be taken over by a state  econ.st/tYmR8d

Govistics Govistics by CGR   Detroit is dangerously close to going broke.  npr.org/2011/12/09/143… city leaders taking “drastic steps.”

@DPGilmartin Dan Gilmartin   Historic houses of worship flood metro Detroit real estate market freep.com/article/201112… #signothetimes