The Municipal Bonds for America coalition warned Friday that a retroactively applied 28% cap on the value of tax exemption would fundamentally alter 100 years of precedent, raise borrowing costs for issuers, limit infrastructure development and constrain economic development, while doing little to help solve the nation's fiscal crisis.
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