November 28, 2013
The Bond Buyer's 20-Bond Index was virtually unchanged, moving from 4.60 last week to 4.61 this week. The lack of drama and a hard-hearted week are largely accountable for the lack of movement.
There are several events in the next few weeks that could impact the market in an adverse way. Congress must come up with a budget that will pass both houses by mid-December. Failure to do that could roil the markets, especially if it appears that the trouble will spill over into the new year when the debt ceiling must be raised again.
On this Thanksgiving Day, we all have many things to be thankful for. Congress is not one.
Below are links to The Bond Buyer's ® 20- Bond Index along with a chart showing the trend of the Bond Buyer's ® 20-Bond Index for the past two years. For those interested, we have data for prior years and will be pleased to provide it upon request.
The Municipal Securities Rulemaking Board's EMMA system is now mandatory for new issue disclosure as well as continuing disclosure. Both the preliminary and final official statements can be downloaded from the following web address: EMMA. And now, information on bond ratings has been added.
Copyright 2003-12 Provident Capital LLC. All rights reserved.
Modified November 28, 2013