Federal budget brinksmanship is endangering the critically important process by which municipal issuers purchase Treasury securities for refunding escrows.
Fiscal Cliff Poses Risks to Muni Refundings
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