Hi , Anyone has any idea why are the municipals ( most of Pimco and Black Rock ) down the last days and still going down someone selling as crazy....?
Confirmation of the obvious? Every municipal entity on the planet is having budget problems that can't reasonably be solved with tax increases to pay off bondholders. Municipalities may be in a "good" position to ignore the pleas and wishes of out-of-town-bondholders. We'll see.