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|Subject: Re: Municipal bonds: A train wreck waiting to ha||Date: 12/7/2012 2:16 PM|
|Author: imuafool||Number: 410749 of 457405|
jgc123: How do you research muni funds? ... I can't figure out how to research the relative risks of the individual holdings.
jgc123 et al:
Check out these sites for FREE info on individual municipal bonds:
EMMA (Electronic Municipal Market Access)
View the tutorial.
MSRB (Municipal Securities Rulemaking Board)
Here’s how to find a CUSIP on EMMA:
Back in 2008, I posted the following at the Bonds & Fixed Income Investments board:
In a 12/08/08 news release, SEC Chairman Cox announced:
"For the first time, millions of individual investors in municipal bonds will have free and instant access to information about their investments, similar to the way they can obtain information about public companies. With liquidity problems of municipal auction rate securities and rating downgrades of municipal bond insurers contributing to the current credit crisis, the disclosure and transparency of the municipal markets have never been more critical. Municipal securities investors need to know what they own. Now they will no longer have to go to such extensive and expensive lengths to find out."
The rule amendments approved by the SEC designate the Municipal Securities Rulemaking Board (MSRB) as the central repository for ongoing disclosures by municipal issuers. Under a separate MSRB rule change, its Electronic Municipal Market Access (EMMA) system would make these disclosures available to investors in the same manner that the SEC's EDGAR system does for corporate disclosures.
EMMA will operate as a consolidated, online portal where investors can instantly access, for free, all of the key information produced by municipal bond issuers about their bonds. Offering documents, real-time trade prices, and education resources already are available on EMMA at www.emma.msrb.org .
The SEC's rule amendments and the MSRB's rule change will be effective on July 1, 2009.
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