Adjusting to the New Landscape of the Municipal Market
Summary: Since the collapse of the monoline insurance companies during the financial crisis, the municipal securities market has undergone a structural adjustment, as lenders and borrowers have had to re-evaluate previous assumptions about this marketplace. Additionally, the municipal market has been quite volatile as we have now seen 22 consecutive weeks of net outflows. John Senesac, Portfolio Manager/Analyst, will discuss the current landscape of the municipal bond market including current volatility, fund flows, and how headline news provide an opportunity for investors to potentially capitalize on the sound issuers in the market. Featured Speaker: John R. Senesac Jr., CFA Director, Portfolio Manager/Analyst John Senesac is a Portfolio Manager/Analyst on the U.S. Fixed Income team. John primarily focuses on investment opportunities in the U.S. Tax-Exempt, Government and Credit markets. He began working in the investment field in 1992. Prior to joining Lazard in 2000, John was associated with Alliance Capital/Regent Investor Services and Trenwick America Reinsurance Corporation. John has a BS degree from Central Connecticut State University and an AAS from Briarwood College.