Bad day for munis

Full and original article posted on Boston Herald

November was a bad month for the $2.8 trillion municipal bond market, which means it was a bad month for state and local government.

Yields on The Bond Buyer’s General Obligation Bond Indexes leapt over 50 basis points (.5 percent), meaning that every $100 million taken to market in November would have cost $500,000 less in annual debt service had it been issued only a few weeks earlier

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