Standard and Poor’s said municipal bond defaults are down by 69% so far in 2011 from the same point in 2010.

The agency found that in its indexed muni bonds there were roughly $2.4 billion of new municipal bond defaults from Jan. 1 to Oct. 31, 2010. By comparison, S&P noted that in this same indexed group there have been about $750 million of defaults this year through Oct. 31. Both figures are par value.

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