MuniLand Snaps: February 6, 2012

By Cate Long
February 6, 2012

Kroll Bond Ratings does some good analysis on which types of municipal bonds tend to default:

The largest share consists of industrial revenue bonds, followed by bonds supporting healthcare and then housing. These three sectors accounted for 67% of all defaulting issuers during this period. Special assessment bonds, typically issued to support real estate development, also ranked high among defaults. General obligation bonds, the largest outstanding sector today, contributed the fewest number of defaults.

Good Links

Investment News: Will credit-rating changes rough up muniland?

Reuters: ”Best week in over five years” for muni bond funds as they pull in $1.67 billion

Bloomberg: “Treasury weakness is driving the muni weakness right now”

MSRB: Overseer requests SEC permission to improve muni trade reporting system

AP: Receivership fees for tiny Central Falls, RI are expected to reach $2.26 million by July

Bloomberg: Long Island town paying top cop $500,000 to retire faces fiscal emergency

Kansas City Star: Kansas’ largest insurer declines participation in governor’s Medicaid reform

Today’s the Day Harrisburg: Previewing what should be in Harrisburg’s receiver’s plan

Think Progress: Florida Republican stripped of senate chairmanship for opposing prison privatization scheme

@Twitter Talk

Richard Florida @Richard_Florida Richard Florida    Map of the Day: Economic Confidence by State – Gallup - gallup.com/poll/152468/Ec…
wizardkitten @wizardkitten wizardkitten    Daily Kos: States with Democratic Govs had 15% better unemployment numbers than states with GOP Govs dailykos.com/story/2012/02/…

BlackRock® @blackrockusinvs BlackRock®  December’s gains helped the S&P Muni Bond Index reach a nearly 11% return in 2011  bit.ly/wf4puY

Tim Maniccia @tmaniccia Tim Maniccia  Hospitals in CA & union employees poised for battle in Nov over prices hospitals charge to patients & charity care. sfgate.com/cgi-bin/articl…

The Civic Federation @CivicFederation The Civic Federation  IIFS Blog Post: “Five-Year Medicaid Projections Show Growth in Unpaid Bills” bit.ly/IIFS_2-3-12
Performance Partners @PublicPerform Performance Partners  Cuts in Ohio’s state budget could make Northeast Ohio communities consider combining services cleveland.comblog.cleveland.com/metro/2012/02/…
Deb Gersh Hernandez @DebGH Deb Gersh Hernandez    Residents set up website, campaign to push for #opengov in Croton, NY  lohud.us/yfnWO3
Ted Nesi @tednesi Ted Nesi    Chafee’s proposed tax increases are progressive, @kathyprojo reports; $34 to $393 more a year depending on income:  bit.ly/x8B0vB

Capital Tonight @CapitalTonight Capital Tonight  Cuomo keeps referring to changing Albany as “a battle.”

Talking Points Memo @TPM Talking Points Memo  Indiana Sec. of State Charlie White (R) convicted of voter fraud. tpm.ly/y3bV7A

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