04/16/2018 | Surging energy stocks led a market rebound last week as each of the benchmark indexes listed here posted gains.
04/09/2018 | In likely reaction to the potential trade war with China, stocks fell last week, stripping away the previous week's gains.
04/02/2018 | The first quarter of 2018 began as the fourth quarter of 2017 ended: with strong market gains.
03/26/2018 | Volatility is the catchword when describing the market lately. Investors had better buckle up for a bumpy ride from here on, at least according to indications from the Chicago Board Options Exchange (Cboe) Volatility Index®, which attempts to provide a forward-looking expectation of price fluctuation in the S&P 500 based on stock option trading.
03/19/2018 | Market volatility has been fueled by investor concerns of accelerating inflation. However, last week's Consumer Price Index, retail sales, and Producer Price Index reports showed inflationary trends in February were subdued.
03/12/2018 | Last week's jobs report appears to have quelled investor fears, at least for the time being.
03/05/2018 | Trade wars: That was the ominous phrase that spooked many investors toward week's end, as President Trump announced plans to implement a tariff of 25% on steel imports and 10% on aluminum imports.
02/26/2018 | For the second week in a row, stocks closed the week ahead. Each of the benchmark indexes listed here ended the holiday-shortened week with marginal gains, led by the Nasdaq, which climbed 1.35%.
02/19/2018 | Stocks rebounded last week following a tumultuous few weeks of significant losses. Led by the Nasdaq, each of the benchmark indexes listed here posted solid gains.
02/12/2018 | OUCH! That's probably the most apt way to describe investor sentiment about the stock market over the past couple of weeks. Despite a strong close last Friday, each of the benchmark indexes listed here lost significant value for the week.
02/05/2018 | Equities pulled back off of their record-setting gains at the end of January, but not enough to forestall a month of significant gains. January provided several noteworthy storylines for investors to consider.
02/05/2018 | Whether it was the start of a market correction or just a blip in what otherwise has been an almost nine-year bull run, equities suffered their largest losses in quite some time last week.
01/29/2018 | Major stock market indexes continue to set records, as the S&P 500 broke its 14th record in January.
01/22/2018 | Corporate earnings season entered its second week with generally favorable results, which likely drove equities last week.
01/16/2018 | Equities continued their strong showing to start the year. Each of the benchmark indexes listed here posted solid gains, led by the Russell 2000.
01/08/2018 | The first week of 2018 saw equities enjoy a strong start to the new year. Less than a year after breaking the 20000 mark, the Dow soared past 25000 last week.
01/02/2018 | While 2017 surely was a strong year for equities overall, the last week of the year was lackluster at best. Each of the benchmark indexes listed here posted week-over-week losses, except for the Global Dow, which increased 0.23%.
01/02/2018 | The year 2017 was eventful, to say the least. President Trump and Congress tried, without success, to repeal the Affordable Care Act, known as Obamacare.
12/26/2017 | Last week saw moderate trading and lukewarm gains. The small caps of the Russell 2000 outperformed the Dow and S&P 500, while the Global Dow posted the highest gains last week.
12/18/2017 | Each of the benchmark indexes listed here closed last week in the black, led by the Nasdaq and the Dow, both of which climbed over 1.00%.
12/11/2017 | Last week proved to be a mixed bag of market returns as the large caps of the Dow and S&P 500 posted moderate gains, while the tech-heavy Nasdaq and small caps of the Russell 2000 closed the week down.
12/04/2017 | Equities surged for much of last week until an abrupt decline midday last Friday culled some of the earlier gains. Nevertheless, of the indexes listed here, only the Nasdaq lost value from the prior week.
12/04/2017 | The Dow soared over 300 points on the last day of November to close above 24000 for the first time in its history.
11/27/2017 | Stocks rebounded last week in spite of the market shutting down for the Thanksgiving holiday. Each of the benchmark indexes listed here posted weekly gains, led by the Russell 2000, which posted one of its largest weekly advances this year.
11/20/2017 | Last week saw a mixed bag of returns as the large caps of the Dow and S&P 500 lost value for the second consecutive week, while the tech-heavy Nasdaq and small caps of the Russell 2000 posted gains.
11/13/2017 | Trepidation over proposed tax reform took a toll on large caps last week, ending what had been a run of consecutive weekly positive returns. The small caps of the Russell 2000 were particularly hit, sending that index down over 1.30%.
11/06/2017 | The benchmark indexes were mixed last week as large caps and tech stocks performed well, while small caps took quite a hit. The S&P 500 closed the week posting gains for the eighth straight week.
11/06/2017 | Despite continuing drama in the White House and the fury of Mother Nature, stock growth remained steady for much of October.
10/30/2017 | Strong third-quarter corporate earnings and an expanding gross domestic product helped push the S&P 500 and Nasdaq to new record highs last week. The Dow also gained close to 0.50%.
10/23/2017 | The Dow jumped 2.00% last week, reaching 23000 for the first time in its history. Strong corporate earnings and the anticipation of Congress reaching a budget resolution swayed investors toward equities.
10/16/2017 | Each of the benchmark indexes listed here posted gains by last week's end, except for the Russell 2000, which fell 0.50%.
10/10/2017 | Equities continued to surge last week as each of the benchmark indexes listed here posted notable gains — despite a late Friday's downturn.
10/05/2017 | Bloomberg
Hernando Montero of Stoever Glass is quoted on what bondholders should expect after Hurricane Maria and how recovery rates will rely on new, unanticipated factors.
10/04/2017 | El Nuevo Día
Hernando Montero, Director of Credit Analysis at Stoever Glass, quoted on what to expect from President Trump’s visit to Puerto Rico. Trump left the island without making a concrete commitment to help recovery efforts, while Oversight Board sought action from Congress.
10/02/2017 | The large caps of the Dow and S&P 500 closed last week with moderate gains, while small caps of the Russell 2000 enjoyed substantial gains.
10/02/2017 | Trading during the summer months is customarily slow, and the summer of 2017 proved no different. July kicked off the third quarter with equity markets enjoying noteworthy gains over their June closing values.
09/25/2017 | The benchmark indexes listed here ended last week mixed, with the large caps of the S&P 500 and Dow posting modest gains, while the tech-heavy Nasdaq fell back a bit.
09/22/2017 | Fortune Magazine
Hernando Montero, Director of Credit Analysis at Stoever Glass, is quoted on funding recovery efforts for Puerto Rico after Hurricane Maria.
09/18/2017 | For years, investor demand drove the sale of Virgin Islands’ (USVI) triple tax-exempt debt. Bond issues typically finance infrastructure and capital projects.
09/18/2017 | Stocks followed the prior week's plunge by surging to record highs last week. The Dow, S&P 500, and Nasdaq reached new all-time highs during the week, as each of the indexes listed here posted impressive gains.
09/12/2017 | The Bond Buyer
Hernando Montero Salazar, Stoever Glass Director of Credit Analysis, quoted on City of Hartford's rating downgrade to deep junk-bond status.
09/11/2017 | Retail gas prices surged as Hurricane Harvey forced refineries to shut down, leading to curtailed petroleum shipments.
09/11/2017 | Bond ratings try to predict if bonds will be repaid principal and interest on the promised date for your bond. Municipal bonds are like certificates of deposits, which promise interest and principal on specified dates.
09/05/2017 | Equities in August saw many peaks and valleys throughout the month, finally rallying at the end of the month.
09/05/2017 | Equities were back in the black last week, with each of the indexes listed here posting end-of-week gains.
09/04/2017 | Municipal bonds have been called "the second safest investment" after U.S. Treasury bonds.
08/28/2017 | On May 3, the Commonwealth of Puerto Rico filed for a record-setting bankruptcy in an effort to reduce $74 billion in bondholder debt and $49 billion in pension obligations to government employees after years of economic decline and debt financing.
08/28/2017 | Amid a scarcity of economic data and the lightest trading levels of the year, stocks managed to end the week in positive territory, as measured by the indexes tracked below.
08/21/2017 | South Carolina Public Service Authority (Santee Cooper) and South Carolina Electric & Gas (SCE&G) parent SCANA have suspended construction on two nuclear reactors at South Carolina’s V.C. Summer Nuclear Station.
08/21/2017 | Last week saw domestic and global conflicts heighten investors' concerns, pushing stocks lower in what was a slow week for trading. The Dow lost over 270 points last Thursday, offsetting robust gains the prior Monday.
08/14/2017 | Investors may have been disturbed by the rising tensions between the United States and North Korea last week, resulting in a shift from stocks to long-term bonds.
08/14/2017 | The Pew Charitable Trusts released its Fiscal 50: State Trends and Analysis, which provides a comprehensive look at five core areas that are essential to states’ fiscal health: revenue, spending, economic, demographic, long-term costs, and fiscal policy trends.
08/07/2017 | There are $3.7 trillion of outstanding municipal bonds, with hundreds of millions more issued each year. Munis have been termed “the second safest investment after U.S. Treasury debt”.
08/07/2017 | Last week ended with a mixed bag of stock market performances. The Dow, influenced by a favorable jobs report and strong corporate quarterly earnings, surged to a new record high.
08/07/2017 | The last day of July saw each of the indexes listed here post gains over their June closing values.
08/02/2017 | Host Roland Stoever discusses the differences between investing in bond funds vs. individual bonds; plus part two of our interview with entrepreneur, author, gaming guru, and all-around raconteur Gary Green.
07/31/2017 | Of the benchmark indexes listed here, only the Dow and the Global Dow posted gains last week. The remaining indexes closed the week modestly lower, despite a rise in energy stocks following Saudi Arabia's promise to cut back oil production.
07/31/2017 | While Hartford, the capital of Connecticut, benefits from its position as a regional economic and employment center, tax base growth remains stagnant.
07/26/2017 | Host Roland Stoever explains how growing pension costs point to a need for state and local governments to address long-term public pension funding. With expert guest, Hernando Montero-Salazar, Stoever Glass Director of Credit Analysis.
07/24/2017 | Except for the Dow, each of the indexes listed here posted modest gains by the close of last week. Favorable corporate earnings reports helped boost the S&P 500 and the Nasdaq, which performed the best.
07/24/2017 | U.S. Virgin Islands (USVI) is an organized, unincorporated territory of the United States of America. It has responsibility for public safety, health, public housing and welfare, education, transportation and communication, and culture and recreation.
07/17/2017 | Both the Dow and S&P 500 reached record highs last week, and each of the indexes listed here posted gains.
07/10/2017 | Illinois lawmakers have overturned Governor Bruce Rauner’s veto of a budget bill, ending a political standoff and enacting the state’s first budget since 2015.
07/10/2017 | Stocks ended last week higher, despite falling energy shares. The Dow and S&P 500 rose last Friday on the heels of June's strong labor report.
07/05/2017 | It’s never too early, or too late, to take control of your financial situation.
07/03/2017 | Land-secured municipal bonds raise capital to finance public infrastructure projects including roads, streets, sidewalks, traffic lights, water and sewer lines and other essential components of real estate development.
07/03/2017 | Last week was not a positive one for equity investors. In a week of heavy trading, the Dow and S&P 500 each lost value while the Nasdaq dropped nearly 2.0%. Of the indexes listed here, only the Russell 2000 and the Global Dow didn't lose ground, eking out minuscule gains.
07/03/2017 | The second quarter proved to be a bit bumpy for equities, but each of the benchmarks listed here closed the quarter ahead of their first-quarter closing values.
06/26/2017 | The U.S. Census Bureau has released its 2016 Annual Survey of Public Pensions, which provides a comprehensive look at the financial activity of the nation’s state- and locally-administered defined benefit pension systems, including cash and investment holdings, receipts, payments, pension obligations and membership information.
06/26/2017 | A drop in energy shares is keeping the large cap indexes of the S&P 500 and Dow in check, although both benchmarks posted moderate weekly gains.
06/21/2017 | Host Roland Stover and guest Hernando Montero-Salazar discuss Hartford, Connecticut – the capital city of the most prosperous state in the Union, and the birthplace of the American insurance business.
06/21/2017 | The Bond Buyer
Hernando Montero, Director of Credit Analysis at Stoever Glass, is quoted on market sentiment as Illinois tries to end a two-year-old budget stalemate.
06/19/2017 | Green Bonds are fixed-income securities, both taxable and tax-exempt, that raise capital for use in financing or refinancing projects and activities with specific climate or environmentally sustainable purposes.
06/19/2017 | The benchmark indexes listed here seemed to follow last week's mixed economic news.
06/12/2017 | On May 31, the Illinois General Assembly ended without an annual budget for the third straight year.
06/12/2017 | The benchmark indexes listed here produced mixed results last week. The large-cap Dow gained a little more than 0.25%, while the small-cap Russell 2000 jumped over 1.0% by last week's end.
06/07/2017 | Roland Stoever and Hernando Montero-Salazar continue their analysis of the commonwealth's Chapter 9 bankruptcy equivalent mechanism – a result of decades of fiscal mismanagement.
06/05/2017 | New highs were reached by the S&P 500, the Dow, and Nasdaq as stocks rose for the second week in a row.
06/05/2017 | May provided a bumpy ride for investors. However, by the end of the month, each of the indexes listed here posted monthly gains with the exception of the Russell 2000, which lost over 2.0%.
06/05/2017 | State general obligation bonds offer the safest returns in the municipal bond industry. Statistically, the U.S. is in its eighth year of economic recovery.
05/31/2017 | Host Roland Stoever explores the roots of the island’s difficulties – decades of policies and decisions that did not play out as expected. With Hernando Montero-Salazar, Stoever Glass Director of Credit Analysis.
05/30/2017 | Following two weeks of losses, equities rebounded last week, with each of the benchmark indexes listed here posting week-over-week gains, led by the Nasdaq, which climbed over 2.0% for the week and is up 15% since the beginning of the year.
05/29/17 | In the weeks following Donald Trump’s election, equity markets, together with interest rates, increased in anticipation of economic growth spurred by corporate tax cuts and a more business-friendly regulatory environment.
05/22/2017 | A rally late last week pulled equities higher, but not enough to overcome a midweek tumble.
05/22/2017 | On May 10, 2017, Hartford, Connecticut took a step toward bankruptcy by soliciting proposals from law firms that specialize in municipal restructuring and Chapter 9 bankruptcy, which protect financially strapped municipalities.
05/17/2017 | Roland Stoever and Bill Brenn continue their look at the process by which the three major rating services assign a grade to bond issues.
05/15/2017 | Lackluster economic data (weak price gains and import prices that are outpacing export prices), coupled with some not-so-strong quarterly corporate earnings reports, kept trading down last week.
05/08/2017 | Investors seeking tax-free income might consider bond funds, because of a diversity of investments in a managed portfolio.
05/15/2017 | On May 3, 2017, the Financial Oversight and Management Board for Puerto Rico filed a Title III Petition for relief under Section 304(a) of the Puerto Rico Oversight, Management, and Economic Stability Act of 2016 (“PROMESA”) with United States District Court for the District of Puerto Rico.
05/10/2017 | Host Roland Stoever and guest analyst Bill Brenn outline the relationship between issuers and the ratings services, and the process by which the latter arrive at their grades.
05/08/2017 | Equities continued their positive trend in April, spurred by favorable corporate earnings reports, proposed federal tax cuts, and positive economic signals overseas.
05/08/2017 | Both the S&P 500 and Nasdaq reached record highs last week as most of the benchmark indexes listed here posted solid gains.
05/03/2017 | Host Roland Stoever and guest Steve Sapirstein explore the intersection of politics and government, and what it means for the individual investor, including the possibility and the effects of municipal default.
05/01/2017 | Stoever Glass Wealth Management, the nation's oldest municipal bond firm, is expanding its investor education and outreach efforts through MuniMatters, a new radio program focusing on the intersection of finance and politics, Wednesdays at 6 pm beginning April 19, with rebroadcasts Saturdays at 3 pm. MuniMatters airs on 880 AM The Biz, Miami, part of the Wall Street Business Network.
04/24/2017 | Bond ratings try to predict if bonds will be repaid principal and interest on the promised date for your bond.
05/01/2017 | Bond ratings begin with a request from the issuer. The issuer must pay a fee to obtain a rating. That is why ratings are not automatic. In addition, if an issuer sells more bonds without a rating, the rating will generally be withdrawn.
05/01/2017 | Tech-heavy Nasdaq reached 6000 for the first time in its history last Tuesday. The small-cap Russell 2000, which surged for much of 2016 but fell back earlier this year, rebounded over the past few weeks, attaining a record high of 1419.43 by midweek.
05/01/2017 | Equities continued their positive trend in April, spurred by favorable corporate earnings reports, proposed federal tax cuts, and positive economic signals overseas.
04/24/2017 | Roland Stoever's Palm Beach Post Weekly Column: A Bond that May Benefit from Rising Rates
04/17/2017 | Roland Stoever's Palm Beach Post Weekly Column: Living on fixed income and safe investments
04/26/2017 | Host Roland Stoever and guest Steve Sapirstein take you through the ABCs of Munis.
04/24/2017 | Better-than-expected earnings reports for the first quarter helped push stocks higher last week. Each of the benchmark indexes listed here posted gains, some for the first time in several weeks.
04/10/2017 | Stocks gave back the prior week's gains as each of the indexes listed here lost value by last Friday's market close.
04/03/2017 | Riding the momentum following the presidential election, stocks surged for much of the first quarter of 2017. Buoyed by the anticipation of tax cuts and policies favorable to domestic businesses, the benchmark indexes listed here reached historic highs throughout the quarter.
04/03/2017 | Stocks rebounded last week as each of the indexes listed here posted week-over-week gains. The small-cap Russell 2000, the strongest-performing index last year, hit a rough patch over the past several weeks.
03/27/2017 | Chicago, its School District and Illinois revive memories of New York City in 1975 and Philadelphia in the early 1990’s. In all three cases, the City, School District and State’s credit were intertwined.
03/27/2017 | Uncertainty over whether Congress would pass a new health-care law, coupled with the prospects of additional interest rate hikes later in the year, may have weighed on investors' minds as stocks tumbled early last week.
03/20/2017 | Following the Fed's announcement that it was raising the target range for the federal funds rate 25 basis points, investors favored government bonds and dividend-paying stocks last week.
03/13/2017 | Stocks rallied last Friday, fueled by a robust jobs report. However, the end-of-week surge wasn't enough to overcome index losses from earlier in the week.
03/06/2017 | The Dow reached 21115 last Wednesday, then fell back a bit, but still closed the week over 21000.
03/06/2017 | Equities continued their positive trend in February as each of the benchmark indexes listed here posted monthly gains.
03/06/2017 | Valentine’s Day, 2008. My first day on the job at a new company, and I’m testifying in Congress about the municipal bond insurance crisis.
02/27/2017 | Most of the benchmark indexes listed here rallied by the close of the market last Friday to finish ahead for the week.
02/22/2017 | There are strengths and flaws in the municipal bond rating process. Rating committee votes are only counted by experienced analysts, generally with at least three years of experience.
02/21/2017 | Equities closed last week in positive territory, as several of the indexes listed here posted record gains.
02/13/2017 | Bond Rating “outlooks” and “credit-watches” are not rating changes. They were first instituted by S&P in 1981, and subsequently adopted by Moody’s and Fitch.
02/13/2017 | The stock indexes listed here posted a strong week of gains as the Dow, S&P 500, and Nasdaq each achieved record highs.
02/06/2017 | Bond ratings begin with a request from the issuer. The issuer must pay a fee to obtain a rating. That is why ratings are not automatic.
02/06/2017 | Stocks fell early last week, with the Dow dropping below 20000, while yields on long-term Treasuries receded as prices climbed with increased demand.
01/30/2017 | Bond ratings try to predict if bonds will be repaid principal and interest on the promised date for your bond. Municipal bonds are like certificates of deposits, which promise interest and principal on specified dates.
01/30/2017 | The Dow reached 20000 for the first time ever midweek, and each of the indexes listed here posted gains of at least 1.0% over the prior week.
01/23/2017 | Every time the topic of federal tax reform is mentioned, it invariably includes a discussion of whether income from municipal bonds should be eliminated.
01/20/2017 | For most of last week, the market was fairly lackluster. By the close of the market last Thursday, the Dow had fallen to 19,732.
01/17/2017 | The past few weeks have seen the markets experience some volatility following several weeks of post-election gains.
01/09/2017 | The markets regained their swag as each of the indexes listed here posted week-over-week gains at the close of the first week of the new year.
01/09/2017 | THE DIS-UNITED STATES OF AMERICA? State general obligation bonds offer the safest returns in the municipal bond industry. Statistically, the U.S. is in its 8th year of economic recovery. In times like this, all boats usually rise with the tide.
01/04/2017 | The Dow suffered its first weekly loss since the presidential election, and each of the indexes listed here closed the last week of 2016 on the down side.
01/04/2017 | The year 2016 likely will be remembered for the election of Donald Trump as the 45th president of the United States and the Brexit vote.
01/04/2017 | MUNI OUTLOOK FOR 2017: CALM BEFORE THE STORM?
12/26/2016 | My apology to Charles Dickens by saying “It was the best of times, it was the worst of times”.
12/19/2016 | The fallout from the increase in the federal funds rate saw bond yields rise, with the yield on 10-year Treasuries hitting a 2-year high. Bond prices tend to fall (and yields rise) when interest rates increase.
12/19/2016 | Detroit’s and Puerto Rico’s financial melt-downs highlighted attention to benefits which will continue to be paid long after this fiscal year. Governments could pay pension benefits for 10-15 years or more even with unfunded liabilities as high as 50%. This is the case, even if government contributions are not made.
12/12/16 | Following a week of tepid movement in the major stock market indexes, equities picked up the pace last week, reaching new record highs.
12/12/2016 | In most of the country, primary and secondary education is provided by independently elected boards that have their own taxing power, separate from the cities they serve. In those situations, fiscal distress or bankruptcy of a city does not affect payments on school district debt.
12/05/2016 | In municipals, there are three types of bonds paid from electric utility operations. The safest are city/state operated retail systems, which are basically legal monopolies selling an essential service. Some of these systems can see ratings as high as “AAA”.
12/05/2016 | Robust gains that marked the last few weeks turned to modest declines last week.
12/01/2016 | The economy picked up the pace in November, as did the stock market. After getting off to a sluggish start during the early part of the month, equities soared following the results of the presidential election.
11/28/2016 | Based on the performance of stock market indexes, it was another banner week for equities amidst slow trading volume.
11/28/2016 | These bonds (IRBs for short) as a class, probably have the highest credit risk that you may not be repaid on time or in full. That said, the interest rate yields are the highest in the industry.
11/21/2016 | Treasury yields continue to climb as the 10-year rate jumped 20 basis points for the week while exceeding last year's closing yield for the first time in 2016.
11/14/2016 | This isn’t about Clinton or Trump. Whenever there is a change in the Presidency and/or Congress, this question gets revived: should municipal bonds continue to be exempt from federal income taxes?
11/21/2016 | There are $3.7 trillion of outstanding municipal bonds, with hundreds of millions more issued each year. Munis have been termed “the second safest investment after U.S. Treasury debt."
11/14/2016 | The markets climbed at the beginning of last week as money moved from bonds (yield on 10-year Treasuries gained 5 basis points) to equities.
11/07/2016 | Even a good jobs report wasn't enough to steady investors last week, as each of the indexes listed here lost value from the prior week. Oil prices fell sharply midweek following a report that crude oil inventories are much larger than expected.
11/03/2016 | Trading in the early part of October saw equities respond negatively to rumors of a pullback on stimulus measures by the European Central Bank, which ultimately proved to be unfounded.
10/31/2016 | As the presidential election draws near, news about the candidates may be affecting the markets.
10/31/2016 | In general, bond ratings are higher for state-wide single family mortgage programs, with ratings as high as “AAA” to “AA”, because of loan diversity, and the intrinsic safety of single-family mortgage pledges.
10/24/2016 | Award Winning Muni Research by Dick Larkin: Hartford, Ct Stadium Revenue Bonds.
10/24/2016 | Credit risk and Market risk are two different concepts. Market risk can be triggered by Credit Risk.
10/24/2016 | Last week began with a whimper as equities closed down (the Dow fell 0.3%), while the 10-year Treasuries yield dropped 4 basis points and bond prices increased.
10/10/2016 | Development district bonds are paid from special taxes or assessments on a new neighborhood or development not within a city’s limits. Therefore, essential water and sewer service is the district’s responsibility.
10/17/2016 | Turnpike bonds are issued for high-speed/limited access highways. The bonds issued for these turnpikes are repaid by tolls charged for use of the toll road.
10/17/2016 | Oil prices reached a one-year high early last week, as Russia expressed its support of OPEC in its efforts to limit production, prompting stocks to post early week gains.
10/12/2016 | Equities took a tumble early last week as the Dow, the Nasdaq, the S&P 500, and the Russell 2000 lost value.
10/5/2016 | The Markets (as of market close September 30, 2016) The second quarter provided a bumpy ride for investors.
10/03/2016 | Last week equities started off well enough, still feeding off the Fed's decision to leave interest rates alone for the time being.
10/03/2016 | Mass transit systems are essential services for large cities. Without them, traffic jams and automobile accidents would cripple the ebb and flow of commuters and businesses. Despite this demand, mass transit is rarely profitable.
09/26/2016 | The Markets (as of market close September 23, 2016)
Buoyed by news from the Fed and the Bank of Japan that measures intended to stimulate the economy would continue — at least in the short term — U.S. stock and bond prices posted gains for the week.
09/26/2016 | Like airports, there are two types of sea-based port facilities. General purpose ports depend on warehouse and storage rental fees, loading and unloading fees, and passenger fees for those ports that serve tourist cruise liners.
09/26/2016 | Daniel Webster defined credit in 1834 as “man’s confidence in man.” Bankers, lenders, and borrowers still profess to agree, even though the aphorism also suggests the power that a confidence man has to draw money from greedy innocents.
09/22/2016 | Puerto Rico borrowed freely in 2012. Raters upgraded the Commonwealth in 2010/2011. In 2013, investors believed they would see good recovery even in default. Puerto Rico’s need to borrow was investors’ “knockout punch” in this heavyweight battle
09/19/2016 | Volatility in the markets reigned last week as each of the indexes listed here enjoyed gains early in the week, only to give most of them back by last week's end.
09/19/2016 | Airport bonds can take two forms. Standard bonds are paid from general operating revenues , such as landing fees, parking, gate and terminal rents, federal passenger facility charges, and commercial concessions.
09/12/2016 | Equities indexes rebounded early last week as lackluster economic reports in the labor and manufacturing sectors, coupled with a falling dollar, appear to be fueling speculation that the Fed won't be raising interest rates following its meeting later this month.
09/12/16 | What first seemed simple has become one of the most complex types of tax-free bonds. In 1998, 48 states and 4 territories made a deal to get paid billions of dollars annually from tobacco manufacturers, in return for states dropping expensive lawsuits.
09/06/2016 | With no Federal Open Market Committee meeting and little news to jar the markets, the lazy, hazy days of August seemed to lull investors into a state of lethargy.
09/06/2016 | NEW PROMESA BOARD MEMBERS MEAN BAD NEWS FOR BONDHOLDERS
09/06/2015 | Irrevocable Life Insurance Trust (ILIT): A Wealth Replacement Trust.
09/06/2016 | Trading continues to be light heading into the Labor Day weekend. Stocks finished modestly higher for the week, buoyed by last Friday's favorable employment report.
08/29/2016 | The Markets (as of market close August 26, 2016). As the "dog days" of summer drag on, trading continues to be relatively light.
08/29/2016 | Dick Larkin: LIVING ON FIXED INCOME AND SAFE INVESTMENTS
08/22/2016 | The Markets (as of market close August 19, 2016)
By the close of last Monday, the Dow, S&P 500, and Nasdaq each had reached record highs for the second time in the past week, only to retreat by Tuesday's close.
08/15/2016 | Why is liquidity important for municipal bond investors?
08/17/2016 | In November, 2014, I gave a speech in Puerto Rico outlining 5 things that Puerto Rico needed to do to avoid default & bankruptcy:
08/15/2016 | Market Week: August 15, 2016
08/08/2016 | Dick Larkin's Palm Beach Post Weekly Column: HOW VALUABLE IS MUNICIPAL BOND INSURANCE
In 1972, AMBAC became the first major company to guarantee payment of municipal bonds with a “AA” rating. In 1994, MBIA became the first bond insurer with a “AAA” rating on its insured bonds.,/br>
08/08/2016 | Roland Stoever : Market Week: August 8, 2016
Oil prices continued to fall early last week, sending large-cap indexes lower. As the week progressed, oil prices gained some momentum, as did U.S. stock indexes.
08/08/2016 | Market Month: July 2016
The Markets (as of market close July 29, 2016) Following an initial downturn largely in response to June's Brexit vote, equities rebounded during the month of July. The first full week of the month saw each of the indexes listed here improve over the prior week, led by the Nasdaq, which gained almost 2.0%. The Dow recouped just about all of the value lost right after the vote.
08/01/2016 | Roland Stoever : Market Week: August 1, 2016
The Markets (as of market close July 29, 2016)
The large-cap indexes cooled off a bit last week, particularly influenced by a somewhat disappointing GDP growth rate for the second quarter and lackluster earnings reports from some key companies.
07/28/2016 |
This isn’t about contributing to an endowment. There are safe income opportunities in state and private college tax-free bonds.
07/25/2016 | Roland Stoever: Market Week: July 25, 2016
he S&P 500 reached a record high last Friday as each of the indexes listed here posted marginal gains over the prior week. Equities have demonstrated a positive trend over the past several weeks.
07/18/2016 | Market Week: July 18, 2016
Stocks continued to surge for the third week in a row as each of the indexes listed here posted significant gains by last week's end.
07/18/2016 | Dick Larkin's Article on Palm Beach Post: Direct Investments in Munis vs. Bond Funds
07/11/2016 | Dick Larkin Reports: PUERTO RICO, AND THE DREADED -D- WORD
P.R. Pays Electric, Water/Sewer & Highway Debts But Not Cornerstone $779 million G.O.’s
07/11/2016 | Market Week: July 11, 2016
Equities continue to put the upheaval caused by Brexit in the rearview mirror as several of the indexes listed here are above their 2015 closing values.
07/01/2016 | Market Week: July 5, 2016
The beginning of the week saw equities still reeling from the Brexit vote. However, the markets closed with a flourish, recouping all of the losses from the prior week.
06/30/2016 | Puerto Rico still faces debt default despite rescue law.
06/30/2016 | Larkin quoted in CNBC story about Puerto Rico
06/29/2016 | Obama Expected to Sign, What does this Mean for Puerto Rico Bondholders?
06/27/2016 | On June 23, in a vote heard around the world, citizens of the United Kingdom (England, Scotland, Wales, and Northern Ireland) opted to leave the European Union by a margin of 52% to 48%. Financial markets reacted swiftly to concerns about potential economic ramifications of a British exit--or Brexit--from the EU.
06/27/2016 | Stoever Glass opened its doors this month in Boca Raton, Florida marking the first satellite office of the renowned municipal bond Firm.
06/27/2016 | The renowned municipal bond Firm added Larry Wolfe, Jim Byrne and David Lesko to their ranks to establish their new satellite office in Boca Raton, FL.
06/27/2016 | The Brexit referendum vote sent a tidal wave of negative returns throughout the world's stock markets,
including the indexes listed here.
06/20/2016 | CAN ILLINOIS SUFFER ANOTHER ROUND OF DOWNGRADES? YES!
What Would It Take for Illinois State Ratings to Drop to “Junk Bond Status” ?
06/20/2016 | Market Week: June 20, 2016
The Fed maintained interest rates at their current level following last week's meeting, primarily influenced by May's mundane employment report.
06/20/2016 | Dick Larkin is on cover story for Bond Buyer on Tobacco Bonds
06/13/2016 | Market Week: June 13, 2016
The major market indexes listed here were relatively flat for the week. Despite gains earlier in the week, losses Thursday and Friday wiped out most of the positive returns.
06/13/2016 | PASSAGE OR FAILURE OF FEDERAL EMERGENCY LAW FOR PUERTO RICO WILL NOT ASSURE PAYMENT OF JULY 1 DEBT SERVICE
06/08/2016 | Dick Larkin of Stoever Glass Weighs in on U.S. Virgin Islands.
Virgin Island has Similar Vulnerabilities, But an Edge in Several Important Areas
06/06/2016 | Market Week: June 6, 2016
Friday's dismal news on the labor front put a damper on expectations that the Fed will raise rates later this month, drove a pullback in domestic stocks, and sent Treasury yields into decline
05/26/2016 | Quick comment on PR Gov's new budget cutting debt 86%
05/25/2016 | Market Week: May 23, 2016
The Dow slipped for the fourth week in a row as investors may have been influenced by the uncertainty surrounding whether the Fed will raise interest rates at its next meeting in June.
05/25/2016 | Dick Larkin, discusses these issues and more in today's report on Puerto Rico Control Board
05/18/2016 | Larkin quoted in reuters story today re: Tobacco Bonds
05/16/2016 | Market Week: May 16, 2016
Despite gains earlier in the week, each of the indexes listed here closed last week down from their prior week's closing values.
05/09/2016 | Market Week: May 9, 2016
A mixed bag of economic indicators headlined by an underwhelming jobs report, coupled with news of continuing financial trouble in Puerto Rico, pushed stocks lower for the second week in a row.
05/09/2016 | Would a Puerto Rico default hurt all municipal bonds?
Puerto Rico has racked up some pretty serious debt. At last check, it's more than $70 billion. The territory says it can't make payments on it. And lots of people are talking about what to do about it.
05/05/2016 | Veteran Analyst Larkin Joins Stoever Glass & Co.
Longtime municipal credit analyst Richard Larkin has joined Stoever Glass & Co. as director of municipal credit analysis for the 50-year-old Wall Street firm that specializes in municipal bonds for individuals and families and is expanding its operations South.
05/04/2016 | Oyster Bay NY Continues Its Slide Into Non-Investment Grade Territory
S&P cites 10 consecutive years of operating deficits. Town is late in providing audited financial statements. Base CUSIP Number: 692160
05/04/2016 | Market Month: April 2016
Despite a poor close to the month, the indexes listed here improved in April (with the exception of the Nasdaq) compared to their March closing values--but not by much.
05/02/2016 | Market Week: May 2, 2016
The markets suffered their worst week of losses since February as each of the indexes listed here ended the week in negative territory.
05/02/2016 | Atlantic City to make $1.8M in bond payment to avoid default
Atlantic City decided to make its $1.8 million bond payment Monday to avoid default, Mayor Don Guardian said.
04/27/2016 | West Palm Beach Pension Bond Deal Gets Mixed Reviews
West Palm Beach, Fla. will issue $60 million of pension obligation bonds to boost a police pension plan that is already 83% funded.
04/25/16 | Market Week: April 25, 2016
Equities markets had a fair week as each of the major indexes listed here posted gains (except the Nasdaq) over the prior week.
04/20/2016 | Renowned Municipal Analyst Joins Stoever Glass & Co., Inc
Richard Larkin, a recognized 40 year industry veteran, has joined SG & Co. as Director of Municipal Credit Analysis.
04/20/2016 | PUERTO RICO DEBT: A COMEDY OF ERRORS, BUT NO ONE IS LAUGHING
Puerto Rico government and its citizens will pay higher debt costs for decades Puerto Rico’s Government Development Bank (GDB): A Help or hindrance?
04/18/2016 | Why Spring is the Ideal Season to Buy Muni Bonds | from www.thestreet.com
Municipal bonds were one of the top performing asset classes in 2015, registering a more than a 3% total return.
04/18/2016 | Slow and steady is sexy again: Investors return to munis | from www.lasvegassun.com
The municipal-bond market looks to be regaining its reputation for delivering reliable if unsexy returns, following several big swings since the financial crisis.
04/18/2016 | Market Week: April 18, 2016
Despite inflationary trends slowing as retail and producer prices fell in March, stocks gained over the past week, buoyed by better than expected first-quarter corporate earnings reports.
04/11/16 | Market Week: April 11, 2016
The equities market has been volatile thus far this year. Following last week's gains, the indexes listed here all closed the week in negative territory.
04/05/16 | Market Week: April 4, 2016
A solid jobs report for March, coupled with continued strength in the housing sector, may have influenced equities as each of the indexes listed here posted gains week-over-week.
04/01/16 | Quarterly Market Review: January-March 2016
The first quarter of 2016 started with a whimper as equities suffered several weeks of losses. However, as March came to a close, several of the indexes listed here recovered enough to finish the quarter in positive territory.
03/31/16 | A 3-D View of a Chart That Predicts The Economic Future: The Yield Curve by New York Times
03/28/16 | Market Week: March 28, 2016
After five consecutive weeks of gains, stocks cooled as each of the major indexes listed here slid into negative territory by the close of last week. With the latest downturn, only the Dow is ahead of its 2015 year-end closing value.
03/21/16 | Muni Liquidity Down | Income Investor Perspectives
03/10/16 | REUTERS Markets -- U.S. municipal bond market rises to $3.715 trln in fourth quarter - Fed
03/07/16 | Market Week: March 7, 2016
Equities continued to show life as each of the major indexes listed here posted gains over the prior week.
Favorable reports from the employment and manufacturing sectors may be quelling investor fears of an
imminent recession.
03/02/16 | Market Month: February 2016
Following steep declines in January and a rocky start to February, equities rebounded by the end of the
month to finish close to their ending values from the prior month. The Dow actually finished up, gaining a
little over 50 points by February's market close.
2/29/16 | Market Week: February 29, 2016
Last week saw a mixed bag of information from some major economic sectors, which may have influenced
the equities markets to record some marginal gains by week's end. Each of the indexes listed here posted
week-on-week gains, led by the Russell 2000 and Nasdaq.
02/22/16 | The Markets (as of market close February 19, 2016)
The major indexes listed here posted gains by the end of last week, marking the best overall week of
performance in the new year. Both the Dow and the S&P 500 posted end-of-week gains of 2.62% and
2.84%, respectively. The Nasdaq and Russell 2000 recouped some of their early-year losses with gains
close to 4.0%. Even the Global Dow gained 3.80% over the prior week's close.
2/16/16 | Apple hits market with up to 10-part bond
02/04/2016 | Market Month: January 2016
01/28/16 | Puerto Rico Electric Renews Debt Restructuring Agreement
01/26/16 | Puerto Rico Said to Present Debt-Restructuring Plan Friday
Puerto Rico plans to meet with creditors on Friday and present a long-awaited proposal that would inflict losses on bondholders as the commonwealth seeks to reduce a $70 billion debt burden that island officials call unsustainable, according to two people familiar with the discussions.
01/25/16 | Separately Managed Accounts: Tailored to Suit You
01/15/16 | Concentrated Stock Positions: Considerations and Strategies
01/14/2016 | Balancing a Retirement Portfolio with Asset Allocation
01/12/2016 | Dynasty Trust
01/05/2016 | Annual Market Review 2015
12/22/15 | Fed Rate Hike: What Does It Mean?
12/8/2015 | Market Month: November 2015
12/2/2015 | Wealth Due to Inheritance
12/1/2015 | Comparing Bond Yields
11/30/2015 | Market Week: November 30, 2015
11/30/2015 | 2016 Key Numbers
11/30/2015 | Financial Planning: Helping You See the Big Picture
11/30/2015 | Lifetime Transfers to Children
11/30/2015 | Balancing Your Investment Choices with Asset Allocation
11/30/2015 | Market Month: October 2015
9/22/15 | Business Succession Planning
9/21/2015 | Market Week: September 21, 2015
9/17/2015 | 2015 Federal Income Tax Planning
09/01/2015 | Market Month: August 2015
09/01/2015 | Bond Trading Strategies and Bond Swaps
07/27/2015 | Market Week: July 27, 2015
07/21/2015 | Active vs. Passive Portfolio Management
07/21/2015 | How Grandparents Can Help Grandchildren with College Costs
07/21/2015 | Understanding Bond Yields and the Yield Curve
07/21/2015 | Bond Insurance: Stronger Than the “Old” Triple-A
07/20/2015 | Bonds, Interest Rates, and the Impact of Inflation -
03/30/2015 | Taxes are an integral part of portfolio performance, since to the extent we can reduce thetax bite..
03/20/2015 | Taxes are an integral part of portfolio performance, since to the extent we can reduce thetax bite...
03/19/2015 | Why is it important to pay state and local government debt? Past economic downturns have taught us...
03/19/2015 | Why is it important to pay state and local government debt? Past economic downturns have taught us...
