Personal Finance

Muni prices stable amid Texas floods, but investors watch for risks

BOSTON/NEW YORK (Reuters) – Longtime municipal finance maven Marilyn Cohen unloaded several million dollars worth of Houston-area utility bonds on Tuesday even though she did not see a high risk to the debt – because a few of her clients were getting nervous.

The concerns were “not what you want to hear in muni-land,” said Cohen, president of Envision Capital Management in California, who like other investors has been reviewing the storm’s potential impact on payments from securities meant to be safe and boring.

The sales were, however, just a small piece of her total Houston holdings, and so far prices in the space have …
Reuters: Money