Iimali zeMaspala ezibuyiselwayo, i-1991-2013
| Unyaka | Izibonelelo zeMasipala | Barclays Agg. |
| 1991 | 12.14% | 16.00% |
| 1992 | 8.82% | 7.40% |
| 1993 | 12.28% | 9.75% |
| 1994 | -5.17% | -2.92% |
| 1995 | 17.46% | 18.46% |
| 1996 | 4.43% | 3.64% |
| 1997 | 9.19% | 9.64% |
| 1998 | 6.48% | 8.70% |
| 1999 | -2.06% | -0.82% |
| 2000 | 11.69% | 11.63% |
| 2001 | 5.13% | 8.43% |
| 2002 | 9.60% | 10.26% |
| 2003 | 5.31% | 4.10% |
| 2004 | 4.48% | 4.34% |
| 2005 | 3.51% | 2.43% |
| 2006 | 4.84% | 4.33% |
| 2007 | 3.36% | 6.97% |
| 2008 | -2.48% | 5.24% |
| 2009 | 12.91% | 5.93% |
| 2010 | 2.38% | 6.54% |
| 2011 | 10.70% | 7.84% |
| 2012 | 6.78% | 4.22% |
| 2013 | -2.55% | -2.02% |
Idatha yokubuyisela inceda ukubonisa indlela ezimbini izinto ezinobungozi -mngcipheko-mngcipheko kunye neengozi zemboleko-zenza indima ekusebenzeni kweebhanki zikamasipala. (Funda kabanzi malunga neengozi zamabhondi kamasipala apha.)
Umngcipheko weNqanaba lomNqophiso woMasipala
Ngokubhekiselele kumngcipheko wezinga lomyinge, kubonakala ukuba ngamagosa ngokubanzi alandelela ukusebenza kweemarike ezibanzi. Kwiminyaka emithathu yekhalenda apho amaxabiso aphakama kwaye i-Index yeBarlaylay Group ilahlekelwe phantsi (1994, 1999, no-2013), ama-municipals nawo aphelile ngokubuya okungalunganga.
Ngakolunye uhlangothi lwesikhokelo, i-munis yanikezela ukubuya okuhle kwi-19 yeminyaka engama-20 apho i-market yebophetyana iphelile ngonyaka kwimimandla enobungozi.
Umngcipheko weNgxowa-mali yeBhanki
Umngcipheko wesikweletu unendima enkulu kwimbuyekezo yeebhanki zikamasipala. Umngcipheko weNgxowa mngcipheko wokuba ibhondi iya kufezeka (ayiphumelelanga ukwenza inzala okanye inkokhelo enqununu), kwaye ibandakanya izinto ezibanzi ezibangelwa ukungafezeki ukutshintsha.
Ngokomzekelo, ukunyuka kwezoqoqosho kuphakamisa umngcipheko wokungafezeki, ukulinganisela kwiimbopheleleko ezibandakanya umbandela wengozi yemboleko. Ekubeni izibophezelo zikamasipala zinikezelwa ngolu hlobo lwabantu abavela kumashishini-ukusuka kwilizwe nakwiidolophu ezinkulu ukuya kwiidolophana ezincinci kunye namacandelo athile (njengama-airports kunye nezithili zamanzi) -ngozi yemboleko inokuchaphazela ukusebenza.
Oku kubonakala kwimiphumo ethunyelwe ngo-2008, xa amaxabiso awela kwaye i-market ye-bond ezuze ngaphezu kwe-5% kodwa amabhondi kamasipala alahlekelwe phantsi. Oku kubonakalisa unyaka ongabonakali nje ngokunyuka kwemali kunye nokukhutshwa komngcipheko okhulayo, kodwa kwakhona ukuwa kweemakethe zezindlu. Ngenxa yoko, oku kwakhokelela ekuncipheni okuthe ngqo kwimali yerhafu yamashishini kamasipala, ukukhathazeka ngokukwanda kwenyuka kwizinga elingagqibekanga .
Ngokufanayo ama-municipals angaphilile kwiminyaka ebonakaliswe ngumngcipheko ophezulu: 1994 (i-Orange Country bankruptcy), ngo-2010 (uMeredith Whitney uqikelele "umtsalane wokungafezeki") kunye no-2013 (ukuchithwa kweDetroit, iingxaki zezimali zasePuerto Rico). Impembelelo yeziganeko zikunceda ukugxininisa into yokuba kukho ukusebenza khonkco kamasipala ngaphezu kolawulo lwamazinga enzala.
Ngexesha elide, nangona kunjalo, ukubuyiselwa kweebhanki zikamasipala kuye kwasondelene kakhulu nalabo beemarike-mali.
Ukususela ngoDisemba 31, 2013, ukubuya kweminyaka eyi-10 yokubuya kweminyaka ye-Barclays Municipal Bond Index yayingu-4.29%, kufuphi ne-4.55% yokubuya kweBarlaylay Group. Qhubeka ukhumbula, nangona kunjalo, ukuba akuyiyo i-aple-to-app counterpart for interest on bonds of municipality is free-tax . Ngenxa yoko, ukubuyela emva kokuhlawula irhafu kamasipala ngokuqinisekileyo kufutshane nobo-bhondi bebakala lokutshala imali kunokuba kubonakala ekuqaleni.
Ukugqibela kokucinga
Ngokusoloko kuthethwa ukuba iibhondi zibonelela ngokutsha kweengozi ezincinci ezifanelekileyo kubatyalo-mali abanonophelo kunye nabasondeleyo okanye sele behlala phantsi. Kodwa itheyibhile ngasentla, kunye neengcambu zayo ezingama-20 phakathi kweembuyekezo ezingcono zonyaka kunye nokugqithiseleyo, kubonisa ukuba iibhondi azikho nto engenazo ingozi. Zincinci zincinci kunezikhokelo (mhlawumbi), kodwa zisoloko zincinci.
Kwaye, njengamasheya, kubaluleke kakhulu xa uqala ukutshala imali. I-Bond iya kubuya kwiminyaka yee-1980 yayiphakamileyo kakhulu kwaye ngenxa yokuba ukuhlanganiswa kwabanike abaxhasi bezintlu-ntloko kuqala ukuba abatyali-mali abatyala imali kamva babengenakwenzeka. Ngokufanayo, utyalo-mali abatywalayo abaqalisa ukutshala imali kwi-post-financial-meltdown indawo eyaqala ngo-2007 sele ihlupheke malunga ne-10 yembuyekezo ephantsi kakhulu. Nangona ukubuyela ekugqibeleni kumaxabiso aphakamileyo amaninzi akunakwenzeka ukuba kuqalwe esi siqalo esidimazayo.