Seeking Alpha

Municipal bond funds experienced outflows of $1.2B in the week through Wednesday amid rising...

Municipal bond funds experienced outflows of $1.2B in the week through Wednesday amid rising concerns that other cities will follow Detroit in declaring bankruptcy. It was the ninth week in a row of net outflows, with the trend starting after the Fed said it would start tapering its QE program later in the year. Yesterday, U.S. Bankruptcy Judge Steven Rhodes suspended lawsuits in state courts that seek to halt Detroit's bankruptcy filing, saying his court will be the only venue for legal action regarding the Chapter 9 submission.
From other sites
Comments (1)
  • june1234
    , contributor
    Comments (3255) | Send Message
     
    $3.7 trillion worth of muni debt out there. City of Chicago just fired 2100 teachers to save cash. Oakland 100 cops. Detroit joins San Bernandino, Stockton, CA, Harrisburg,PA, Jefferson County AL. As borrowing costs rise there will be more defaults.Can't solve a debt problem with more debt.
    26 Jul 2013, 05:46 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs