November 1, 2018
Dear WEALTHTRACK Subscriber,
We live in an era of debt explosion. The amount of U.S. government debt, mortgage related debt and corporate debt has soared in the last decade. In a late cycle economy with interest rates rising, it is not a good mix. A big exception is the municipal bond market where bond issuance has remained relatively flat.
Why have state and local governments and various municipal agencies not participated in this national leveraging binge and what does it mean for municipal bond investors?
It’s an important question for individuals because municipalities and their agencies provide most of our public services and individual investors continue to own the lion’s share of these tax exempt bonds, 42% by recent estimates.
This week’s guest is Robert Amodeo, head of municipals at Western Asset Management Company where he oversees $23 billion of assets. They include the flagship Western Asset Managed Municipals Fund, which Amodeo joined as co-portfolio manager in 2007. The fund is rated four-star by Morningstar and has earned its bronze medalist analyst rating.
Amodeo will explain why the fundamentals in the municipal bond market are quite favorable and why munis can provide a safe haven for investors.
As always, if you miss the show on Public Television, you can watch it at your convenience on our website. You’ll also find my weekly Action Points there, plus our guests’ “One Investment” ideas. We also have a web exclusive EXTRA interview with Amodeo about leadership and his recent favorite books on the topic.
If you would like to take WEALTHTRACK with you on your commute or travels, you can now find the WEALTHTRACK podcast on TuneIn, Stitcher, and SoundCloud, as well as iTunes. Find out more on the WEALTHTRACK Podcast page.
Thank you for watching. Have a great weekend and make the week ahead a profitable and productive one.
Best regards,
Consuelo
Video Clip:
M* Snapshot SHMMX:
https://www.morningstar.com/funds/XNAS/SHMMX/quote.htmlLipper Snapshot SHMMX:
https://www.marketwatch.com/investing/fund/shmmxSHMMX Is Ranked #19 In The (NL) fund Category By U.S. News & World Report:
https://money.usnews.com/funds/mutual-funds/muni-national-long/western-asset-managed-municipals-fund/shmmx 
