The 35% subsidy from the federal government, i.e. taxpayers, to the states is about to end. $185 billion in these bonds was issued in 2010. With the House changing hands next year it is unlikely the program will be resurrected. Watch for a very rough year for muni bonds in 2011.
- Why Americans Aren't Hitting the Road This SummerThis weekend marks the beginning of summer driving season, and Americans should be packing up and hitting the road. Why aren’t they? Americans are driving less than expected and economists are struggling to explain why. […]
- The Fragile Truce Between Bonds and StocksThis year has been good for both bond and stock investors. To rely on that benign picture lasting looks risky. […]
- The Surprising Source of U.S. Profit GrowthIt isn’t America, but the rest of the world, that is driving corporate earnings growth. […]
- Why Americans Aren't Hitting the Road This Summer