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.
- Brexit, the Pound and Stock Prices: A Volatile MixSterling is the swing factor for investors. It may yet fall further to help the U.K. economy to adjust. […]
- Why Old Friend Must Lead UniCredit Down Hard RoadItaly’s biggest lender has bought back its former investment bank chief to become CEO, he now needs to act like a ruthless outsider. […]
- Brexit Is No Bust for U.S. ManufacturingAn improving U.S. manufacturing sector is expected to stay on track regardless of Brexit. […]
- Brexit, the Pound and Stock Prices: A Volatile Mix