Search results for: ty schoback

Detroit and Stockton are game changers for municipalities in fiscal distress

Contrary to past experience and conventional wisdom, general obligation bonds are not sacrosanct and very low recovery rates are possible. Pensioners and other politically favored classes are likely to be treated more kindly than bondholders.

Tagged with: Fixed Income, Investing, Muni Perspectives Blog

Detroit and Stockton are game changers for municipalities in fiscal distress

Are the Detroit and Stockton bankruptcies and how they were handled representative of what’s to come? Here muni senior analysts Ty Schoback and Michael Taylor discuss these cases and Chapter 9 more broadly, especially concerning trends in recovery rates for bondholders.

Detroit bankruptcy — One year later

Ability is not the same as willingness to pay. Political pressures continue to influence the Bankruptcy process, potentially to the detriment of bondholders and leaving politically-connected stakeholders more equal than others.

Tagged with: Fixed Income, New Tax Regime

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