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Municipal Bonds

City Sustainability Reporting: An Essential Best Practice

Adam Sulkowski | Posted 06.07.2016 | Green
Adam Sulkowski

U.S. and Chinese mayors are discussing climate action this week. There's one best practice in particular that all others depend upon: sustainability r...

The SEC Is AWOL on Puerto Rico

Dennis M. Kelleher | Posted 05.23.2016 | Politics
Dennis M. Kelleher

There have been numerous high-profile allegations of misconduct regarding the structuring, sales and trading of some of Puerto Rico's bonds. The SEC is supposed to be in the investor and issuer protection business. It's time for them to get to work.

Political Violence: It's the Economy Stupid

Michael Farr | Posted 03.22.2016 | Business
Michael Farr

Getting away from D.C. every so often helps with perspective. Life inside the Beltway can cloud one's views and lead to an inflated sense of axis mun...

What's So Bad About a Little Deflation?

Michael Farr | Posted 03.15.2016 | Business
Michael Farr

Ever since the global financial crisis central bankers across the globe have become increasingly fearful about the prospect of widespread deflation. ...

What's Going on in Retail?

Michael Farr | Posted 03.09.2016 | Business
Michael Farr

CNN.com recently published an article (Store closings are the hottest trend in retail) about the rash of retail store closings in recent months. As t...

Keep it in Perspective

Michael Farr | Posted 02.25.2016 | Business
Michael Farr

With the S&P 500 now down about 10% from its all-time high in May 2015, a certain level of fear has returned to the markets. Among the many concerns ...

Consumer Drive? Don't Hold Your Breath

Michael Farr | Posted 12.08.2015 | Business
Michael Farr

What is the true state of the US consumer? The Federal Reserve seems pretty confident that consumers have both the means (savings, disposable income,...

Where There's A Will There's a Way

Michael Farr | Posted 11.24.2015 | Business
Michael Farr

If the full extent of the budgetary problems are not well understood, how can we be in a position to address the problems?

Confusion Reigns

Michael Farr | Posted 08.06.2016 | Business
Michael Farr

Economic data and financial-asset prices don't always paint the same picture about the health of the economy.

Puerto Rico's Political Limbo and the Economic Crisis

Harry Franqui-Rivera, Ph.D. | Posted 07.28.2016 | Latino Voices
Harry Franqui-Rivera, Ph.D.

The economic crisis in the island is suffocating the people. Water and electricity bills have skyrocketed. Public services are far, way far, from good.

Has the Chinese Market Finished "Correcting"?

Michael Farr | Posted 07.13.2016 | Business
Michael Farr

All things considered, the major equity markets of the world have been fairly orderly for the past year and a half. That is, all except the Chinese market.

Puerto Rico and Otherness

Dante Disparte | Posted 06.29.2016 | Business
Dante Disparte

As the recent global financial crisis taught us, privatizing gains while socializing losses is a dangerous economic policy and financial contagion cannot be easily quantified or reversed.

Laura Barron-Lopez

The Curious Case of Puerto Rico, And Why Default Poses A Risk To The U.S.

HuffingtonPost.com | Laura Barron-Lopez | Posted 06.30.2015 | Politics

WASHINGTON -- U.S. lawmakers have no firm plan to help more than 3 million American citizens living 1,000 miles off the coast of Florida under a gover...

Riding a Growth Wave

Michael Farr | Posted 06.25.2016 | Business
Michael Farr

It is still early days for the American newfound interest in health and wellness, but as organics only make up 5 percent of total food sales I think the industry has a long runway of growth ahead.

New York City Should Be Cautious About Increasing Its Debt

Carol Kellermann | Posted 06.17.2016 | New York
Carol Kellermann

New York City has more outstanding debt than ever before, and Mayor Bill de Blasio has proposed a 10-year capital plan that will increase it substantially. Now is the time to consider how much debt is appropriate.

Irrational Exuberance?

Michael Farr | Posted 05.21.2016 | Business
Michael Farr

I've stated repeatedly that a massive amount of stimulus has been required to generate GDP growth of just 2.0%-2.5% annually since the end of the Great Recession (June 2009). We have further said that the removal or reversal of some of these stimulants will be a tough hurdle for the economy to overcome.

Poking Holes in the Strong-Dollar Thesis

Michael Farr | Posted 05.11.2016 | Business
Michael Farr

The dollar began its ascent against other major world currencies in mid-2014. The move higher was fast and furious, but the greenback ran into some resistance beginning in the middle of March.

Fed Near the Cliff

Michael Farr | Posted 06.09.2015 | Business
Michael Farr

The incessant parsing and analysis of each and every Fed utterance is becoming quite comical. God love Steve Liesman and Mark Zandi, but are they really adding much value by trying to read between the lines of each statement from each Fed member?

Why Do Interest Rates Keep Decreasing?

Michael Farr | Posted 05.27.2015 | Business
Michael Farr

The market's response to Wednesday's economic data was somewhat perplexing at first blush.

The End of the Gravy Train?

Michael Farr | Posted 04.25.2015 | Business
Michael Farr

In the summer of 2013, a sharp spike higher in interest rates caused by the "taper tantrum" (fear that the Fed will soon end monetary easing) reduced both housing affordability and the opportunities to lower mortgage rates through refinancing.

A Race Against Time

Michael Farr | Posted 04.01.2015 | Business
Michael Farr

The year 2015 may yet produce solid returns for investors in US stocks. However, it's looking more and more likely that TINA ("There Is No Alternative"), more than any other factor, will be responsible rather than strong earnings growth.

Bold Action Plan or Delusional Rant?

Michael Farr | Posted 03.23.2015 | Business
Michael Farr

Wherever you stand on the political spectrum, I think there are some undeniable truths regarding our economy that need to be addressed before we reach the next phase of robust and sustainable economic growth.

Taking Stock

Michael Farr | Posted 03.17.2015 | Business
Michael Farr

There are many positive signs in the US. Gross Domestic Product (GDP) for the 3rd quarter was up 5% on an annualized basis compared to the 2nd quarter (adjusted for inflation).

Time to Get Excited?!

Michael Farr | Posted 02.28.2015 | Business
Michael Farr

Surging stock prices will likely increase rather than decrease the costs of saving for retirement for most folks. Why? Because most people, including baby boomers who are inching closer to "retirement age", remain vastly underprepared for retirement.

Should the Fed Be Worried About Deflation?

Michael Farr | Posted 02.17.2015 | Business
Michael Farr

For an economy heavily dependent on consumer spending, this is not a trivial consideration.