September 2, 2025 — The recent $18 billion acquisition of JDE Peet’s by Keurig Dr Pepper has implications that extend beyond the corporate bond market — most notably, it strengthens the financial position of JAB Holdings, which indirectly benefits municipal prepaid gas bonds issued by National Western Life Insurance Co.

August 11, 2025 — While muni bonds are often seen as safe havens, recent events remind us that credit risk is real — and sometimes underestimated. And with bond insurance no longer the safety net it once was, credit research isn’t just important — it’s essential.

July 30, 2025 — In a surprising twist, both high-grade and high-yield municipal bonds are outperforming — simultaneously. This rare alignment is challenging traditional market logic and signaling a structural shift in investor behavior. Discover what’s driving this municipal market paradox and what it means for portfolio strategy.

July 28, 2025 — Bonds with mandatory put features — which require the issuer to repurchase the bond before final maturity — are gaining traction, offering investors an attractive yield premium. While these structures come with added complexity, they also present a compelling opportunity for those who understand how to manage the nuances. In this piece, we explore why these “puttable” bonds are trading at wider spreads and how savvy investors can capitalize on their income potential.