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Municipal Market Update - Year to Date Returns Defy Expectations

Webinar Details

Date: June 12, 2014             Duration: 00:60                Time: 12:00 pm EST

We will provide a comprehensive view of the Municipal market that includes:
  • A performance update, what did well and what didn't in the Municipal market
  • A look at value in the Muni market (is there any left?)
  • A quick update on what is going on in Detroit and Puerto Rico
  • A technical picture (supply, tax risk, etc.), how are state/local finances progressing (any trouble spots?) and what/where we like to be on the curve and sectors
Presenters:

Tom DeMarco, Senior Vice President, Fixed Income Market Strategist: Thomas DeMarco, CFA®, is the fixed income trading desk strategist for Fidelity Capital Markets. He provides the institutional tax-exempt and taxable trading groups and clients with general credit and market research as well as credit-specific analysis.

Roger Young, Senior Vice President, Fidelity Capital Markets (Moderator) Roger Young is responsible for managing Fidelity Capital Markets' fixed income support functions for the retail, correspondent banking and precious metals trading units. He is a 30-year financial services veteran with extensive experience in institutional banking, portfolio management, trading and research in the U.S. debt markets.

In general, the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities). Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. Lower-quality fixed income securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Foreign investments involve greater risks than U.S. investments, and can decline significantly in response to adverse issuer, political, regulatory, market, and economic risks. Any fixed-income security sold or redeemed prior to maturity may be subject to loss.

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