MuniLand Snaps: March 21, 2012
NASA reports: “A huge, lingering ridge of high pressure over the eastern half of the United States brought summer-like temperatures to North America in March 2012. The warm weather shattered records across the central and eastern United States and much of Canada.”
Stateline: Republican legislatures move to preempt local government
Bond Buyer: Indigestion hits muniland as supply still too much to handle
Reuters: Weak bond insurers thrashed by muni defaults
Bloomberg: After massive debacle in Jefferson County, JPMorgan uses balance sheet to gain top spot in muniland
Stateline: West Virginia is the first state to put funds aside for retiree health costs
Luray Free Page Press: Virginia gets big fat ‘F’ on transparency report
Reuters: Stockton: The town the housing boom broke. Lots of others out there.
Reuters: California cities scramble to avert insolvency
Tribune Media Service: Victor David Hanson on who’s to blame in California?
Mark Dow @mark_dow Doesn’t take much in the way of volume to really move these spreads these days
Bond Girl @munilass 30-yr BBB public hospital bonds 170 over AAA GO. Compare to 448 in April 2009. (Bloomberg) Mergers are credit positive, investment in HY.