Record Low Muni Yields Help Make 2012 Memorable
"While the outcome may have been aided by some expert political strategy, in the end a majority of the constituents in California voted to increase taxes to get the State's fiscal house in order," Singer said. "Combine this with the pension reform in Wisconsin and the potential reform in Rhode Island, and the case for municipal credits being inherently stronger than similarly-rated corporate credits became solidified," he explained.
