Investors are down on municipal bonds these days, and you can certainly understand why.
I mean, when Detroit filed for bankruptcy back in July, that Michigan city's $18 billion debt made it the biggest municipal filing in U.S. history. And just yesterday, Fitch Ratings said it expects Detroit to miss payments on its general-obligation bonds that come due Oct. 1, resulting in an actual downgrade to "default" status.
And remember: Detroit was just the latest municipal bankruptcy filing.
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