grizzer
New member
Bond buyers demand & get 52 basis point yield increase due to higher risk.
Rate payers get double digit jump in cost to flush.
http://www.reuters.com/article/2011/11/10/us-usa-alabama-jeffersoncounty-idUSTRE7A95CT20111110
Harrisburg, PA was bailed out by the State earlier.
Bad part is municipals all over the country are cash strapped as well, a muni bond market crash would not be pretty.
Rate payers get double digit jump in cost to flush.
http://www.reuters.com/article/2011/11/10/us-usa-alabama-jeffersoncounty-idUSTRE7A95CT20111110
Harrisburg, PA was bailed out by the State earlier.
Bad part is municipals all over the country are cash strapped as well, a muni bond market crash would not be pretty.