Joe Deane

Investors Singing I Love New York With Triple IOUs: Muni Credit

Debt of New York issuers is close to the most expensive since 2011 even as the state and its municipalities are set to triple the amount of IOUs they’re using to cover pension bills.

Bonds Wall Street Said Don’t Buy in ’12 Reaped 15%: Muni Credit

Debt of a Florida hospital rated three steps above junk bucked looming Medicare cuts to earn 15 percent tax-free in 2012, about seven times the gain on Treasuries and double the broader municipal market.

Gross Doubles New York Bet as California Loses Lead

Bill Gross has more than doubled his holdings of municipal debt sold in New York, helping propel the world’s largest bond fund to its biggest investment in local securities in six years.

Gross Expands Local Bonds to the Most in Five Years

Pacific Investment Management Co., which runs the world’s largest bond fund, has boosted holdings of U.S. municipal debt to the most in more than five years and may buy more.

Pimco Local Buying Signals Longest Rally Prolonged: Muni Credit

Bill Gross keeping his municipal- debt holdings in September at the highest since at least 2006 lends confidence to a market on a pace to beat Treasuries for a second straight year.

Pimco to Open Municipal-Bond Funds for California, U.S.

Pacific Investment Management Co. plans to open two municipal-bond funds today, one for California debt and the other for securities sold by state and local governments nationwide.

Lottery Securities Beating AAA Provide Winning Bet: Muni Credit

Want to win the Oregon or Florida lottery? Don’t purchase tickets. Buy their bonds instead.

No Muni Miracle for 2012, Though Yields Are Enticing

Barely a year ago, the municipal bond market was tarred as a horrible investment. The expiring taxable Build America Bonds program had triggered an uptick in new issues that created a supply glut, bond rates were on the rise and analyst Meredith Whitney told "60 Minutes" that defaults would amount to "hundreds of billions of dollars." From October 2010 through January 2011, municipal bond funds saw net outflows of more than $33 billion, while a benchmark municipal bond index fell nearly 5 percent.

Pimco Bets on Hudson Yards as Yield Penalty Falls: Muni Credit

Pacific Investment Management Co. is betting that Manhattanites like Annie Zhou will help pay down $3 billion of debt that is transforming a former West Side industrial area into a neighborhood with shops and offices.

Mediocre AAA Bonds Ready to Rebound From Worst Rout: Muni Credit

Top-rated municipal bonds are poised to end their worst annual start in at least 19 years as the waning of debt insurance and borrowers’ deteriorating credit quality shrink supply.

"The risk-adjusted returns that we've had this year is one of the key factors as to why we've been buying them as a firm."

- Joe Deane on Oct 10, 2012

New York

California

Bill Gross

Vinik to Shut Hedge-Fund Business to Focus on Hockey Team

J.C. Penney Spent $170 Million to Install Johnson Team

American Capital Slumps as Mortgage Strategy Backfires

Vodafone’s Verizon Payday Seen Leaving U.K. Empty Handed

U.S. Stocks Rise to Record; Copper Jumps, Treasuries Drop