Cate Long Calls out Charles Gaspario…Top Yielding Emerging Market ETFs..and More!

August 28th, 2012 by

Best of the Bond Market for August 28th, 2012

Reuters: – Cate Long calls out Charles Gasparino ­­– “Gasparino’s piece in the New York Post may be the most convoluted thing that I’ve ever read about municipal bonds”

Barron’s: – Berkshire’s unwind of muni CDS not a sector call. – The widely reported unwinding of Berkshire Hathaway’s position in municipal credit-default swaps was not a negative call on state-and-local securities, according to Citigroup’s municipal-research group headed by market veteran George Friedlander.

Learn Bonds: – Buffett’s track record on bonds – Patchy at best. – Warren Buffett’s investment track record speaks for itself, but is it wise to blindly follow everything he does? His recent divestiture of munis has brought the municipal bond market into focus. So we checked out his track record in the bond market to see if he’s always on the money.

Lord Abbett: – Munis find fiscal support. – While an objective look at the current state of the municipal bond market should acknowledge that there are pockets of distress, an objective overview should also recognize the strengthening credit profile of the broader tax-exempt market.

ETF Trends: – Emerging market bond ETFs with attractive yields. – With most of the developed world weighed by heavy debt burdens, the emerging markets standout as an island of fiscal soundness. So here’s a look at some emerging market bond ETFs with attractive yields.

BondBuyer: – Will pre-trade reporting of muni-bond offers by ATS firms help or hinder liquidity in the muni market? – Firms that operate Alternative Trading Systems (ATS) the electronic marketplaces where dealers buy and sell munis are divided about the effect recent SEC recommendations will have on the muni market.

Seeking Alpha: – Is it time to get out of Nokia bonds? – Nokia bonds have been on a pretty good run of late, but now might be the time to make a quick exit.

Reuters: – U.S. states’ debt tops $4 trillion. – America’s 50 state governments owe $4.19 trillion, including outstanding bonds, unfunded pension commitments and budget gaps, according to a new report.

BusinessWeek: – Rigged bids betrayed muni issuers. – Ex-UBS AG (UBSN) managing director Peter Ghavami and two former colleagues lied and cheated to rig bids for city and state finance deals, a federal prosecutor said in closing arguments at their criminal trial.

Seeking Alpha: – Sprint bonds offer 8% yields. – Sprint Nextel the third largest wireless carrier in the U.S. has seen strong subscriber growth over the past few years, growing from 36.5 million to 52 million in just two years. In a world of low yields, Sprint bonds offer an exceptional fixed-income investment.

BusinessWeek: – ECB shapes bond plans. – European Central Bank (ECB) head Mario Draghi has called off his trip to Jackson Hole this week; where he was due to speak at the annual conference of central bankers. He blamed a heavy workload as the bank works on its eagerly awaited plan to lower borrowing costs for struggling eurozone governments.

Index Universe: – Van Eck plans short-term junk muni ETF – Van Eck Global, the New York-based money manager behind the Market Vectors brand of ETFs, filed regulatory paperwork with the Securities and Exchange Commission on Aug. 27 to market a fund focused on short-dated, high-yield municipal bonds.

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