With vast differences in funding levels across states, muni investors need to carefully consider the impact of pension obligations when assessing muni-credit worthiness, says Morningstar's Rachel Barkley.
Many of the effects from the shutdown haven't even touched the economy yet, says Morningstar's Bob Johnson.
Beyond noting their stock/bond split, investors should also check their small-cap exposure, overall rate sensitivity, and vulnerability to the wealth effect.
Despite a lackluster August jobs report and downward revisions to June and July, the Fed is likely to move forward with plans to curb bond buying, says Morningstar's Bob Johnson.
More than any time since the Depression the municipal market has become a credit market.
Concerns about the Motor City bankruptcy have helped rattle muni markets, but how much direct exposure does the typical muni-bond fund hold?
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