Word: bond
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University President Drew G. Faust ventured out from Mass. Hall to bond with undergraduates in Eliot Dhall. Flyby picked up a plastic tray and followed Faust into the servery, where she marveled at the salad selection and bestowed kind smiles upon students...
...first, the losses did not really unnerve muni investors because they stemmed from a special problem relating to muni bond insurers, such as MBIA, which ran into financial difficulty. For that reason, many analysts and investors saw that early selloff in munis as a buying opportunity. The insurers may be in trouble, the thinking went, but municipalities were still able to raise taxes, or tolls, if they ever got into a crunch...
...their retired workers. Many states have done a much worse: West Virginia, Road Island, Connecticut and Oklahoma all have less than 60% of their retiree benefits paid for. "The number of state funding ratios at the low end is startling," says Peter Hayes, who heads BlackRock's municipal bond management committee. "The prospect for even greater liabilities is a reasonable scenario if the country becomes trapped in a prolonged recession...
...Instead, Strumeyer believes investors should compare muni yields to those of high-quality corporate bonds. Recently, Vanguard's Term Tax Exempt fund, a huge muni fund with $21 billion in assets, had an implied yield of about 3%, according to Regent Atlantic's Cordaro. A similar corporate bond fund, BlackRock Intermediate Bond II, had yield of 8.5%. Even assuming a 35% tax bracket, the corporate bond fund is yielding nearly double the muni fund...
...Arab League defends its stance by alleging that the ICC is politicized and that indicting Bashir is a cheap shot at destabilizing Sudan and grabbing its resources, particularly oil. Such a claim, free of substantial evidence to back it, seems to be taken from a James Bond movie and appears to be little more than conspiracy theory. Nor is it consistent with the Arab League’s recent decisions—when Lebanon demanded an international investigation and tribunal for the assassination of former Lebanese Prime Minister Rafik Hariri earlier last month, Arab leaders welcomed the beginning...