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2008 Newsletters

April 2008 - Unprecedented Municipal Market Stress Creates Unique Opportunities January 2008 - Municipals - Attractive Relative Value

2007 Newsletters

October 2007 - Barbell Portfolio Structures July 2007 - Supreme Court to Hear Kentucky Case April 2007 - Hedge Fund Activity in the Municipal Market January 2007 - Kentucky Case Update

2006 Newsletters

September 2006 - Specialty State Bond Challenge July 2006 - Municipal Enterprise Privatization April 2006 - Alternative Minimum Tax Considerations December 2005 - Impact of Premium Bonds

2005 Newsletters

October 2005 - Flattening Yield Curve July 2005 - Return Considerations When Using High Coupon Bonds April 2005 - Call Risk with Refunded Bonds January 2005 - Is Tax Reform Likely?

2004 Newsletters

October 2004 - De Minimus Risk With Par Bonds In a Low Rate Environment July 2004 - Tax Loss Trading With A 15% Long Term Capital Gains Rate April 2004 - Lease Revenue Financing - UAL Special Facility Revenue Bonds January 2004 - Implications of a Steep Municipal Yield Curve

2003 Newsletters

October 2003 - California Credit Update July 2003 - Increased Call Activity In A Low Rate Environment April 2003 - Tobacco Bond Developments January 2003 - Municipal Government Budgetary Pressures

2002 Newsletters

October 2002 - Duration/Volatility Review July 2002 - Municipal Portfolios and Terrorism Risk April 2002 - Relative Attractiveness of the Municipal New Issue & Secondary Mkts January 2002 - The Value of Active Management in Municipal Portfolios

2001 Newsletters

October 2001 - The Impact of September 11th July 2001 - Power Problems in California April 2001 - Municipal Market Volatility Analysis January 2001 - Incurring Tax Liabilities In A Municipal Portfolio