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McDonnell Investment Management, LLC

McDonnell maintains the following archive of Fixed Income Insights from previous quarters.
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2003 (Third Quarter) Insights

Impact of Final Bush Tax Plan on Municipal Bonds

A Shaken Bond Market Looks for Interest Rate Stability

States in FY02 Not Markedly Changed by New GASB 34 Accounting
“For the very first time, states are reporting their FY 2002 entity-wide annual financial results using new GASB 34 accounting standards in addition to traditional governmental accounting.”

2003 (Second Quarter) Insights

Comment on California Municipal Bonds

College and University Financials Struggling to Make the Grade

“While higher tuition levels are evidenced by the higher net tuition revenues for fiscal year 2002, operating and profit margins have deteriorated to the worst levels seen in recent years.”

Municipal Credit Overview

2003 (First Quarter) Insights

Are California Bonds Poised to Underperform?

Municipal Sector Supply

Municipal Bonds & the Bush Plan to Exempt Dividends and Lower Tax Rates


“The President’s proposal to make common stock dividends generally tax-free raises questions about the impact of a new class of securities competing with municipal bonds.”

Bonds for the Long Term


“Based on our analysis, we believe rising interest rates may not have as negative an impact as one might expect on the annualized total returns for a three-year time horizon. Moreover, rising interest rates do not necessarily lead to negative total returns over shorter time periods.”


©2006 McDonnell Investment Management, LLC. All rights reserved.