Muni Bond Mailers

or Register to post new content in the forum

55 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jul 9, 2009 2:50 pm

If you were to send postcard/call on muni bonds, would long-term muni's with a higher rate (say 5.5%, 30 years)get a better response than a shorter maturity? (say 4 to 4.75%, 10-15 years)

 
I don't do a lot of direct selling of muni's (other than to existing clients), so i am not sure what would garner the most attention.  It seems some people get scared away from long maturities.  I am just curious what some of the bond sellers out here think.
Jul 9, 2009 3:02 pm

I call on shorter maturities, insured with decent rates... Currently calling on some Mass Port Authority 6 yrs, 2 yr call, yielding 6.0%..



In my opinion i think the long term scares people(especially if you are calling someone who doesn't have 20 yrs)

Jul 9, 2009 3:39 pm

6 years, 6%??  What's the rating on it?  Is that a 6% coupon, or yield to maturity/call?  I don't see many investment grade bonds yielding that high with only 6 years left.

Jul 9, 2009 3:40 pm

Is that bond insured? 

 
This is one of my complaints of Jones.  I don't know where you guys get your bonds from, but our traders could do us some favors and find stuff like that one.  Of course in our system it would net like .5% and nobody would sell it, so...
 
Nothing like calling on a good 5% MBD then killing the sale with the maturity in 2039.   
Jul 9, 2009 3:51 pm

Insured(AMBAC) coupon 5.5% BBB

Jul 9, 2009 3:53 pm

Use to be at jones know the feeling... Still compare inventory with a friend that works there..



Had a friend who sold muni's institutionally and said the Jones traders would call up and demand so many things that it was hard to fill orders, then they would want (either too many or not enough.. don't remember)

Jul 9, 2009 3:54 pm

Squash, who do you work through?

Jul 9, 2009 3:57 pm

Pershing.

Jul 9, 2009 4:00 pm

I think jones likes the long term stuff(buy and hold idea) plus the real goal is to have them reinvest the dividends in a mutual fund. Buddy of mine does that all day with Van Kampen equity income. Sends them the first check to their house and then calls to verify they got it, then follows up with a pitch for VK EI

Jul 9, 2009 4:04 pm

Do you know the CUSIP on the MA bond?  I searched MA Port Authority bond listings, and the only 5.5% bonds are selling at 13% premiums (and those ae 11 year bonds).

Jul 9, 2009 4:12 pm

575898ad3

Jul 9, 2009 4:13 pm

I sold some First Trust Municipal Closed-End UIT today...yields 6.6%, fully liquid after September, rebalances in 2 years.

Jul 9, 2009 4:18 pm

I dont understand those.. love the equity uits, but dont get the income ones..

Jul 9, 2009 4:24 pm
snaggletooth:

I sold some First Trust Municipal Closed-End UIT today...yields 6.6%, fully liquid after September, rebalances in 2 years.





Which one is that?

Jul 9, 2009 4:26 pm
Squash1:
snaggletooth:

I sold some First Trust Municipal Closed-End UIT today...yields 6.6%, fully liquid after September, rebalances in 2 years.



Which one is that?

 
Municipal Income Select Closed-End Portfolio 17
 
http://www.ftportfolios.com/Retail/dp/dpsummary.aspx?fundid=6208
 
I figure I can get out if duration and interest rates become a problem.
Jul 9, 2009 4:34 pm
Squash1:

575898ad3

 
Yup.  BBB.  Jones won't buy them, even if they are insured.  Uuuuhhhhh .  Well, I'm just gonna go sell some 42 year AA rated 5.7% munis..... 
Jul 9, 2009 4:40 pm
B24:
Squash1:

575898ad3

 
Yup.  BBB.  Jones won't buy them, even if they are insured.  Uuuuhhhhh .  Well, I'm just gonna go sell some 42 year AA rated 5.7% munis..... 
 
When are you going to bite the bullet and go indy?  EDJ doesn't deserve you.
Jul 9, 2009 4:41 pm
B24:
Squash1:

575898ad3



Yup. BBB. Jones won't buy them, even if they are insured. Uuuuhhhhh . Well, I'm just gonna go sell some 42 year AA rated 5.7% munis.....





That sucks but I know the feeling(well actually I didn't til I left). But i have tons of stuff just like that..

Jul 9, 2009 4:46 pm
snaggletooth:
Squash1:
snaggletooth:

I sold some First Trust Municipal Closed-End UIT today...yields 6.6%, fully liquid after September, rebalances in 2 years.

Which one is that?



Municipal Income Select Closed-End Portfolio 17



http://www.ftportfolios.com/Retail/dp/dpsummary.aspx?fundid=6208



I figure I can get out if duration and interest rates become a problem.





Why fully liquid in sept? is that when the deferred sales charge clear? I do all UIT equities in fee accounts, so I pay nav and don't have to worry about the comm..

Jul 9, 2009 4:53 pm
Squash1:


Why fully liquid in sept? is that when the deferred sales charge clear? I do all UIT equities in fee accounts, so I pay nav and don't have to worry about the comm..

 
Yeah, because of the deferred sales charge.  You don't have to worry about it I guess.