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Muni Defaults Down At Midyear, State Budgets On Time-Barrons

|Includes:Assured Guaranty Ltd. (AGO), MBI

Despite cities such as Stockton making headline news for refusing to honor its debt obligations, the number of defaulted municipal issuers is actually down by 32% from the first half of 2011. The total dollar amount of defaulted muni bonds is down to $800 million from $1 billion over the same time period last year. This is very good news for both investors in municipal bonds, and the bond insurance companies such as AGO, and MBI.

http://blogs.barrons.com/incomeinvesting/2012/07/10/muni-defaults-down-at-midyear-state-budgets-on-time/?mod=BOL_hps_blog_ii

Disclosure: I am long AGO, MBI.

Stocks: AGO, MBI