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Markets - Buy Side
Savader Goes to Philadelphia Fed to Cool Fears of Muni Defaults
by: Dan Seymour
Wednesday, April 7, 2010
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Mitchell Savader traveled to Philadelphia yesterday to deliver a reality check. Numerous newspapers and magazines, including Barron's and the New York Times, have run eye-popping headlines in the past few weeks.

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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