Category Archives: Bonds

My Letter to the Wall Street Journal

The Wall Street Journal just published a letter of mine, Debt Bomb has Shorter Fuse Than Many Citizens Think (credit to them for the snappy title, and to my wife Corrina for invaluable editing).  I respond to the Journal’s recent editorial Obama’s … Continue reading

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My FT Alphaville Commentary on Managing U.S. Treasury Debt

My commentary Go Long, Mr Mnuchin has just been posted at FT Alphaville of the Financial Times. I address whether the U.S. Treasury debt should be lengthened and whether it should sell 50-year or 100-year bonds.  I think that “ultra-long” bonds are … Continue reading

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NAMA in NOLA

I am excited to go to New Orleans this week to speak at the annual conference of the National Association of Municipal Advisors (NAMA). I will be on a panel about bond structuring with Lori Raineri of Governmental Financial Strategies Inc., … Continue reading

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Taming Premium Bonds

The Bond Buyer published my commentary Taming  Premium Bonds earlier today.  Although callable premium bonds are very popular in the municipal market, I argue that they hurt issuers and the market.  Market rules dictate that the proceeds to the issuer compensate only for high … Continue reading

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Fifth Annual Municipal Finance Conference

On July 12, this year’s Municipal Finance Conference will be held for the first time at the Brookings Institution in Washington, D.C.   The other sponsors are the Brandeis International Business School and the Olin Business School at Washington University in … Continue reading

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Fast Formulas #6: Finding the Time

  The Fast Formulas on this blog provide shortcut calculations for financial instruments such as mortgages and bonds. Most formulas involve the symbol n to represent the number of periods (e.g. years or months) until the end of the instrument. Usually … Continue reading

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Fourth Annual Municipal Finance Conference

I hope you can join us in Boston this summer at the Fourth Annual Municipal Finance Conference.  The conference will be hosted on August 7 by Brandeis International Business School and the Federal Reserve Bank of Boston.  The conference has evolved … Continue reading

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