Prices of tax-exempt municipal bonds, particularly longer-term bonds, continue to fall amid...

|By:, SA News Editor
Prices of tax-exempt municipal bonds, particularly longer-term bonds, continue to fall amid anxiety over money flowing out of municipal bond funds. Yields on top-quality 30-year munis approach 5%, while 20-year and 10-year paper yield 4.6% and 3.1%, respectively. Recent warnings from Meredith Whitney and Jamie Dimon probably aren't helping.