Municipal bond yields, true to their habit of following Treasury yields with a noticeable lag, have started Tuesday lower, bestowing upon the market a stronger tenor.
Market Post: Attractive Muni Ratios to Treasuries Lure Buyers
FEB 26, 2013 10:46am 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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