Updated Thursday, July 31, 2014 as of 11:35 AM ET

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SIFMA's Bentsen: Default Would Hurt Munis

Lynn Hume, Naomi Jagoda

Leaders of financial groups and Treasury Secretary Jack Lew warned Thursday that brinkmanship over the debt limit is already hurting the financial markets and that a default would have catastrophic impacts domestically and globally, making it harder to deal with long-term U.S. debt issues.

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