Pharma Investments, Ventures & Law Weekly
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Capitol Public Finance Group, Llc
A Municipal Market Year in Review: the Days of Easy Money and Simple Approaches are Behind Us
December 14th, 2008
This past year has brought significant market turmoil. But, arguably, the bankruptcy of "Bond King", Lehman Brothers, on September 15, will be seen as the turning point for easy bond market access by school districts and other government issuers. Since 1998, government bond issuers have enjoyed favorable borrowing conditions when issuing municipal bonds, selling approximately $4.1 trillion worth. Long term interest rates on AAA rated bonds have ranged from a low of 4% to a high of 6%. These low interest rates were made possible through bond insurance and an overwhelming demand from institutional buyers. Keywords: Capitol Public Finance Group,...
Source: Pharma Investments, Ventures & Law Weekly (2008-12-14)
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