Refuting Meredith Whitney’s dire forecast which helped send borrowing costs to two-year...

|By:, SA News Editor

Refuting Meredith Whitney’s dire forecast which helped send borrowing costs to two-year highs in January, the $3.7T municipal bond market has rebounded big, as the average 10-year borrowing cost for top-rated states and local governments drops to a multi-year low 2.37%. Banks have stepped up, boosting investments in municipal securities 20% Y/Y.