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RE: [RT] Muni Bonds Are Shunned As Credit Crisis Widens

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Misleading! I have a SS in which I track 112 muni bond CEF's. It is very large and takes considerable effort to update. I made the effort to do a comprehensive update on Friday morning because I expected to find some bargains. Neither yields nor discounts have increased appreciably. Problems appear to be pretty much limited to Auction Rate arena.
 
Earl

From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Ben
Sent: Sunday, February 17, 2008 12:31 AM
To: realtraders@xxxxxxxxxxxxxxx
Cc: vincenn
Subject: [RT] Muni Bonds Are Shunned As Credit Crisis Widens

 
----- Original Message -----
Sent: Saturday, February 16, 2008 2:10 PM
Subject: [TimeandCycles] Muni Bonds Are Shunned As Credit Crisis Widens

 

The credit crisis is spreading from Wall Street to Main Street.

Investors are starting to shun municipal bonds, the debt securities that states and cities issue to fund everything from sewer projects to new schools. Though muni bonds have long been considered among the safest investments, few are buying them because of worries about the safety of bond insurers that back the bonds.

AP

On Tuesday, two muni auctions failed to find buyers, and experts said that was the first time this had ever happened. Conditions have only worsened since then, they explained




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