The tax-exempt market continued to weaken Thursday morning, continuing the trend of the week, though traders noted the movement was more a correction than a panicked selloff.
Market Post: Munis Weaken as Overbought Market Corrects
DEC 13, 2012 11:05am ET
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"One of these things does not belong" is a catchy slogan and it comes to mind when looking at the latest tax policy ideas coming from Washington when looking at the municipal bond tax exemption. The exemption is not a result of the growth of a tax code designed to induce or reduce certain behaviors. Rather, it is the foundation for the flow of capital in a $3.7 trillion dollar market required to efficiently finance the nation's infrastructure.
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