Treasury SLGS Data Illustrates Shift in Market Composition

April 20, 2015

This week, we examine data from the U.S. Treasury on State and Local Government Series Securities and draw conclusions regarding the pre-refunded bond sector and the muni market in general.

Please click here to read the rest of this week’s commentary: http://www.lumesis.com/pdf/TreasurySLGSDataIllustratesShiftinMarketComposition.pdf

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Moody’s: Paying 100% of ARC is Not Always Enough to “Tread Water”

April 13, 2015

This week, we discuss a new measure of pension funding, examine the impact of oil prices on labor markets in oil dependent States and discuss changing levels of food stamp participation.

Please click here to read the rest of this week’s commentary: http://www.lumesis.com/pdf/MoodysPaying100ofARCisnotalwaysenoughtotreadwater.pdf

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New DIVER Geo Scores, Drought Update, Export Challenges

April 6, 2015

This week we start with a review of our proprietary DIVER Geo Scores, highlight the strongest and weakest States as well as provide you a link to get the scores themselves.   We provide an update to drought conditions in California and identify some states that face export challenges.

Please click here to read the rest of this week’s commentary:

http://www.lumesis.com/pdf/NewDIVERGeoScoresDroughtUpdateExportChallenges.pdf

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Fed Shows Muni Market Shrinking, but States are Adding Debt

March 30, 2015

This week, we check in on how quickly States and cities are submitting their CAFR’s and examine what the State filings are telling us regarding debt growth.

Please click here to read the rest of this week’s commentary:

http://www.lumesis.com/pdf/FedShowsMuniMarketShrinkingbutStatesareAddingDebt.pdf

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All Labor Markets are Local

March 23, 2015

This week, we examine recently released county-level employment data and identify counties that are not participating in the reported national trend.

Please click here to read the rest of this week’s commentary: http://www.lumesis.com/pdf/AllLaborMarketsAreLocal.pdf

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Mortgage Delinquencies; If Munis are Cheap, Why Does Everyone Hate the Market?

May 16,2015

This week, we examine the most recent Mortgage Delinquency Rate, revisit a previous analysis of municipal bond ratios to Treasuries, and evaluate the relationship between a market sentiment indicator and interest rate changes.

Please click here to read the rest of this week’s commentary: http://www.lumesis.com/pdf/IfMunisAreCheap.pdf

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Houston’s Baby Step to Address Pensions; What’s Ailing Housing in Connecticut?

This week, we highlight a modestly positive development in Houston regarding its pension issues and look at the most recent housing price data from FHFA.

Please click here to read the rest of this week’s commentary:

http://www.lumesis.com/pdf/HoustonsBabyStep.pdf

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