The recent swift correction in tax-exempt interest rates has created opportunities for municipal bond investors to attain very attractive risk-adjusted returns. An investor in the highest tax bracket could achieve around a 7.0% taxable equivalent yield in today’s market environment. With credit quality largely remaining stable for many municipal issuers and rates significantly higher than Read More
Chad Farrington, CFA, Head of Municipal Bond Research
Chad Farrington is director of municipal credit and a senior municipal fixed income portfolio manager for Columbia Management Investment Advisers, LLC (CMIA). He also serves as a senior credit analyst, focusing on continuing care retirement communities, senior living, multi-family and other traditional high yield products. Mr. Farrington joined the firm in 2003 and has been a member of the investment community since 1998.
Prior to joining the firm, Mr. Farrington spent five years at Fitch Ratings as a director in the firm’s health care and tax-backed groups. While at Fitch Ratings, he produced numerous rating reports and several special research pieces on the health care sector. Mr. Farrington also delivered several speeches on the long-term care sector.
Mr. Farrington earned a B.S. in business finance and a minor in economics from Montana State University. He is a member of the Boston Security Analysts Society, Boston Municipal Analyst Forum and the National Federation of Municipal Analysts. In addition, he holds the Chartered Financial Analyst designation.