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Recent Muni Tax Free Bonds News:
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Governor Andrew Cuomo’s deals with New York lawmakers and unions to raise taxes and freeze pay may help extend the biggest rally in a year for the state’s income- tax bonds.
Barely a year ago, the municipal bond market was tarred as a horrible investment. The expiring taxable Build America Bonds program had triggered an uptick in new issues that created a supply glut, bond rates were on the rise and analyst Meredith Whitney told "60 Minutes" that defaults would amount to "hundreds of billions of dollars."
Municipal bonds ended 2011 with yields near the lowest in 44 years as demand for the tax-exempt securities surged, predictions of widespread default never materialized and issuance fell from 2010.
As you may have heard a million times, celebrity analyst Meredith Whitney does not care for municipal bonds.
By The ETF Professor
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