Meredith Whitney on 60 Minutes: Expect 50+ muni bond defaults in 2011

The Fed raised rates 25 basis points to 3.75%–4.00%, validating bond-market expectations as persistent inflation pushed Chair Warsh to finally ‘walk the walk’ on his hawkish rhetoric.

Investors continue to flock to smart beta strategies

The potentially unprecedented scale of the destruction from the California wildfires has investors worried about the possible medium- and longer-term impact on municipal and corporate debt issuers.