The Crumbling Muni Bond Market Monolith

Is the municipal bond market a safe place for clients to put their money? Actually, a new study suggests that the question itself may be flawed – because the municipal market is far from monolithic, and municipal defaults are more common than ratings agencies have indicated. The study was authored in August by three Federal Reserve experts on the subject – Jason Appleson, Eric Parsons and Andrew Haughwout.

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