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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 ...
A 2010 report noted that some $2.8 trillion worth of muni bonds were insured against default by private companies. Chances are, this knowledge is contributing to the recent rash of municipal ...
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.
State defaults in the United States are instances of states within the United States defaulting on their debt. The last instance of such a default took place during the Great Depression , in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [ 1 ]
Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
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