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Dennis Lockhart: Muni Bond Market Stable Despite Default Scare
Market News International | Tuesday, November 27, 2012
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The U.S. municipal bond market has been fairly stable, despite recent dire predictions that municipalities could default in droves, Dennis Lockhart, President of the Federal Reserve Bank of Atlanta, said Tuesday.

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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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