INVESTMENT STRATEGY UPDATE
Sponsored by the Center for Financial Services at DePaul University
Monday, February 1, 2010
1 E. Jackson Blvd, 8th Floor
Time: 3:30-5:00
Refreshments to follow
MUNICIPAL FINANCE AT THE CROSSROADS: WILL 2010 BRING CONTINUED DISRUPTION OR NEW OPPORTUNITIES FOR INVESTORS?
The usually staid municipal bond market has been one of the markets most impacted by the financial crisis. The downgrading of most commercial banks and bond insurance companies shut down the municipal money market for extended periods of time. The bond insurance industry, a staple of both institutional and retail oriented transactions for decades, has been virtually destroyed with only two firms currently able to write bond insurance contracts on new issues. Various sectors- A-rated hospitals, nonrated issues, and Baa-rated universities lost market access for extended periods of time after the Lehman bankruptcy.
While "Build America Bonds", which were created by the American Recovery and Reinvestment Act of 2009, have improved access to cost-effective funds, the ongoing budgetary concerns at the state, city, county, and local levels continue to present a challenging environment for both institutional investors and individual investors. Our panel of experts discusses the challenges and opportunities in the municipal market confronting investors today, answering questions like "Just how risky are municipal bonds today", "Do Build America Bonds make sense for individuals?" and "What rating sectors and industry groups provide the best opportunities?"
The program will be moderated by Christopher Mier, Managing Director and Municipal Strategist, Loop Capital Markets
Panelists Include:
Ted Damutz, Senior Credit Officer, Moody's Investment Service Bill Grady, CFA, Senior Portfolio Manager, Allstate Investments Jane McCart, Senior Vice President, High Yield Portfolio Management, Northern Trust Global Investments
There is no fee for this event, but space is limited. You can email cfs@depaul.edu to reserve a spot. Light refreshments will be served during the networking session following the program.
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