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A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
By Michael Cohick Senior Product Manager Despite rating changes and volatility in the municipal bond market for 2021, Moody’s annual report offers an overall picture of stability. We explore the ...
The triple tax exemption made Puerto Rican bonds highly attractive to U.S. municipal bond investors, and very low cost for Puerto Rican local government to issue. [ 11 ] [ g ] [ h ] [ i ] Puerto Rico thus began to issue debt to fund its expenses , a practice repeated for four decades since 1973. [ 14 ]
On December 19, 2010, in an interview on the CBS television program 60 Minutes, Whitney stated that 50 to 100 counties, cities, and towns in the United States would have "significant" municipal bond defaults totaling "hundreds of billions" of dollars, and that "it'll be something to worry about within the next 12 months."
Defaults on municipal bonds are relatively rare, especially for bonds issued by financially stable municipalities. This makes them an attractive option for income-focused investors, such as retirees.
Some experts believe that a number of governments could default on their muni bonds. Because the bonds aren't insured by the federal government, that could leave investors facing a potential loss ...
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