June 2024 - Monthly Review

An Update on Muni Defaults

S&P released their annual Public Finance default analysis for 2023 and MainLine thought this would be a good time to revisit the principal protection power of the “for the public good” sector. It has been four years since our last visit and the impact of COVID on muni credit quality should probably be reviewed. MainLine slices, dices and presents the data, letting you decide if munis remain a SWAN investment.

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Expert Insight About The Municipal Bond Market

Our team of investment professionals are active in the market daily. Our blog includes posts with valuable insight and commentary about critical municipal finance topics and expert interpretation of how current economic factors may affect the municipal bond market.

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About The Author

Mike Maciolek, CFA, is a Senior Vice President at MainLine West and a member of the investment team for individually managed client accounts and our family of Tax Advantaged Opportunity Funds. Prior to his current role, he was a portfolio manager for First Data Corporation. Mike directed a set of municipal bond portfolios approaching $12 billion in market value, and $7 billion in interest rate derivatives, applying his expertise to meet the various objectives of the portfolios. He began his 30 year career in New York City as an analyst with management responsibilities for $2 billion in tax-exempt money market funds for Oppenheimer Funds.

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