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Posts Tagged ‘$3.7 trillion’

Municipal Bonds Are Unique

September 5th, 2012 by Kurt L. Smith

Municipal bonds have been in the press more often lately. The Federal Reserve recently published a report on defaults in the municipal market precipitating arguments as to what constitutes a default as well as what constitutes a municipal bond. Such arguments bolster our position that while municipal bonds in the aggregate total almost $4 trillion, the marketplace is highly fragmented and the marketplace is a collection of tens of thousands of unique financial instruments too numerous to count. (more…)

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