MuniLand Snaps: March 23, 2012

March 23, 2012

Daniel Berger of Thomson Reuters MMD created this interesting chart comparing municipal bond fund flow data from Lipper and the level of the municipal bond ETF “MUB“. I’m not exactly sure what it’s telling us, but if you have thoughts, please put them in the comments or tweet me @cate_long.

Good Links

Council of State Governments: American lawmakers ride the rails in Japan

Rolling Stone: Matt Taibbi: Gangster banks keep winning public business

Reuters: Flows into US muni bond funds drop by 87 percent this week

Bond Buyer: State and local tax revenues mark ninth quarter of growth

ETF Daily News: Ten muniland problems dressed up as harbinger of market collapse

Bloomberg: Skip the jail bonds, especially those issued in Texas

Detroit News: Fitch downgrade triggers $50 million-a-year swap payments

Seeking Alpha: The interest rate swaps that are bankrupting local governments

CFA Institute: Sell-side analyst argues against the Volcker Rule N.J. Senate committee rejects Gov. Christie’s Supreme Court nominee

@Twitter Talk

St. Louis FedSt. Louis Fed  @stlouisfed Bullard: The ultra-easy policy has been appropriate until now, but it will not always be appropriate
Bob NelsonBob Nelson  @BNels22 Rebounding Tsy mkt, light fwd calendar both bullish for munis, even as fund inflows diminish. Expect steeper 10/30 MMD curve #muniland
Cumberland AdvisorsCumberland Advisors  @CumberlandADV Munis Take a Break (Finally)
MuniCreditMuniCredit  @MuniCredit Years of mismanagement (and usually some corruption) is bankrupting govts. Swap triggers simply accelerate the process.
Ted NesiTed Nesi  @tednesi Should Rhode Island put everyone into the state pension plan? One prominent academic says that’s the way to go:
Mayor Dave BingMayor Dave Bing  @mayordavebing Bloomberg op-ed swings and misses on Detroit – MuniLand @cate_long
Tim ManicciaTim Maniccia  @tmaniccia Detroit consent deal faces host of hurdles
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