Howard Manning, a former colleague of mine and currently a senior trader at Vining Sparks, was kind enough to share with us his recent commentary on the impact of Obamacare on health care high yield bonds. Bear in mind that his comments were directed toward an institutional audience. Here’s a copy of the report. Vining […]

At this writing, the municipal market continues to benefit from powerful technical factors, including massive re-investment flows for the June-July period and virtually non-existent new high yield supply. Yields on long-dated AAA munis set a new record low last week at 2.90%. Against that backdrop, it’s not surprising that the high yield sector has also […]

Book Review by The Bond Buyer

“Investing In The High Yield Municipal Market” was reviewed in a feature article by Christine Albano at The Bond Buyer, the muni industry’s trade paper.

Mardee Handler at was kind enough to review the book. She also asked me a few thoughtful questions along the way. You can find the article here: Demystifying the Municipal High Yield Bond Market. And while you’re there, check out the rest of the site: home page . There is literally something for everybody who’s interested in […]

On June 7th, 2012, I participated in a panel discussion on the topic of high yield muni strategies at the Bloomberg State & Muni Finance Conference in Chicago. My co-panelist was Bart Mosley of Alprion Capital.

Muni Experts: California City Bankruptcies Not Start Of Massive Wave   July 12, 2012 By Yali N’Diaye (MarketNews)      WASHINGTON (MNI) – While three cities filing for bankruptcy in less than two months within one state could look like the beginning of a wave, at least within the State of California where it is taking […]

Disclaimer The information contained on this website and from any communication related to this website is for information purposes only. does not hold itself out as providing any legal, financial or other advice. also does not make any recommendation or endorsement as to any investment, advisor or other service or product or to […]

One of my favorite charts in the book is Figure 3.1 on Page 29. It really puts the high yield muni market in the proper historical perspective. Unfortunately, by this time, the data displayed in the book is almost a year old. Blame it on the publishing cycle. So here’s an updated version of the […]

Welcome to, the online extension to “Investing In The High Yield Municipal Market”, the first ever book dedicated to the art (and science) of investing in the high yield municipal sector. This is where we will be updating much of the data contained in the book. This will also serve as a new forum […]