Munis from high-tax states in great demand
Investors in states like California and New York seem to be ignoring the ratings on municipal bonds as they deal with the limits on deducting state and local taxes
There’s so much money chasing after the bonds sold by America’s high-tax states that buyers don’t seem to care too much about what credit-rating companies think.
The heavy demand has driven municipal yields to their lowest level in more than six decades. And with rates so low, the yield pen
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