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Regional Bond Dealers Association
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Municipal Market Advisors News

 

The area of the curve that represents the best value is…..
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Is Connie Lee Back?
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High grades /insured bonds – where is the value?
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Four consecutive +40 billion months of supply – 1st time ever
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Why are statement valuations so low ?
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MMA’s BUY / SELL Indicator
MMA’s BUY / SELL Indicator

 

How does MMA Value the municipal market today? Please contact Steve McLaughlin 973-701-1111 to learn more.
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RBDA — THE Association for Regional Fixed Income Dealers

The Regional Bond Dealers Association is a group of U.S. middle-market, fixed-income securities dealers with common interests and shared goals and values. RBDA works passionately to promote public policies and market practices that will improve the market environment and provides a forum for its members to debate and discuss issues of common interest. The RBDA also works to inform its members of regulatory and legislative developments affecting their business operations and provide a clearinghouse for members to examine and review bond market industry issues. The RBDA provides educational opportunities for industry professionals through publications, conferences and seminars and works in cooperation with other industry organizations on issues of mutual concern in order to promote common interests.

News

The RBDA has filed a comment letter on a recent proposal by the SEC to amend regulations related to credit rating agencies. In the letter RBDA supported the SEC's proposals to address conflicts of interest and suggested additional steps to strengthen rating agency regulation.
The RBDA has filed a comment letter supporting a proposal by Moody's Investors Service to begin rating municipal bonds on the global rating scale. The RBDA said that the move "is in the long-term best interests of both issuers and investors, that it will lower financing costs for state and local governments, and that it will reduce confusion in the market and better enable investors to compare the credit risk of municipal debt with that of other debt products."
The RBDA supports two new bills introduced by Representative Barney Frank (D-MA) to improve the municipal bond market. One relates to municipal bond ratings and the other would spur bank investment in the municipal market.
Four new members have joined the RBDA recently: Dougherty & Co., Coastal Securities, First Southwest Company and D.A. Davidson & Co.
Supreme Court Upholds Muni Tax Exemption
By a 7-2 decision the U.S. Supreme Court tax exemption of in-state munis does not violate commerce clause.
Supreme Court Decision
WSJ Article
Comment letter to the MSRB regarding auction rate securities reporting proposal
Comment letter to the MSRB regarding NIIDS implementation
Testimony before the U.S. House of Representatives on conditions in the municipal bond market
Testimony
Witness List

Headlines

RBDA Comments on ARS
The RBDA has sent a letter to SEC Chairman Chris Cox, N.Y. Attorney General Andrew Cuomo and NASAA President and N.D. Securities Commissioner Karen Tyler on recent settlements regarding auction rate securities. The RBDA told the officials that the settlements should encompass securities managed by the settling firms but held by the customers of other firms. The RBDA also released this press release on the issue.
Raymond James and MarketAxess join RBDA

Events

Fixed Income Capital Markets Conference
(September 25-26, 2008)
Four Seasons Las Colinas Resort in Dallas, TX
Register Now

Regional Bond Dealer Fixed Income Capital Markets Conference