Federal lawmakers and their staffs are wrong to think that tax-credit bonds could cost-effectively replace tax-exempt municipal bonds as a source of financing for state and local governments' projects, Citi said in a recent report.
Citi: Tax-Credit Bonds Have Issues
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.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY