406 Days Until This Market Crashes…
Investment U (November 20th, 2009) Writes:
406 Days Until This Market Crashes…
by Robert Williams, Publisher Friday, November 20, 2009
David Fessler has a sector that warrants your attention. But first, I want to officially raise a red flag in another market.
Something’s amiss in the municipal bond market. Year-to-date, “munies” have behaved more like momentum stocks than their intended purpose of providing a safe yield.
Consider this: A handful of closed-end muni funds have averaged a 46% return so far this year.
The rally, of course, was borne out of the financial crisis, when investors and institutions alike went furiously scrambling to safety.
The novice move was into cash. But the smart money flowed strategically into the bond market. And a lot of the action was in municipal bonds. (The junk bond market is similarly overheated.)
What’s noteworthy, however, is that when the market’s
...bloomberg, Contrarian Perspectives, David Fessler, Federal Government, Investing Lessons, InvestmentU, obama, president, Robert Williams;, USD


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