Municipal bankruptcies highlight the need for solid bond research


Key Points

  • Despite recent headlines, municipal bankruptcies are rare and expected to remain so
  • We believe high-quality municipal bonds continue to offer value—particularly to high-income earners—because of their tax-exempt status
  • Our research-intensive investing approach has helped our managers to steer clear of troubled municipal debt issues in client portfolios
  • Local government challenges demonstrate the importance of active management and professional research when investing in this area of the market

Quarterly Commentary

Q3 2014

Click here to read the Fall 2014 issue of Quarterly Insights which details our recent research into the long-term investment impact of geopolitical conflicts, discusses why interest rates may stay low for longer than many expect, and shows why technology might be making you smarter than you think.