Munis in the Media: Headline Risk and Municipal Bond Analysis

Harold Burger, Bill Oliver, Jeannette Neumann, Mary Williams Walsh and Adam Mackey

Municipal Finance Journal, 2012, vol. 32, issue 4, 27 - 52

Abstract: It seems that municipal bonds are in the news more than ever. Some of the stories, in print and on television, are painting dramatic pictures of the municipal market, particularly state and local government finances. Do the media have it right? How does the municipal bond analyst factor media coverage into credit analyses? This article examines the role of the media in the context of municipal bond analysis, as well as the advantages and disadvantages of headline risk for investors.

Date: 2012
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