PERSONAL FINANCE - Munis Are Sexy
Municipal bonds are performing well these days. It’s crucial to understand what’s happening in the major credit crunch. Here’s how to tell the difference between a rogue muni and one of quality…
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In more news from the credit crunch overnight, the Port Authority of New York tried to sell bonds through Goldman Sachs but eventually had to accept an interest rate of 20%. That’s up from 4.3% last week. Essentially the markets for AAA rated municipal bonds in America is shutting down because of concerns over the viability of bond insurers and worries about the credit crunch.