Hernando Montero's Palm Beach Post Weekly Column: Safety In Bonds: A Comparison

Monday, Sep 4, 2017

Hernando Montero-Salazar
Director of Credit Analysis
Stoever Glass & Co., Inc.
Phone: (212) 952-1910
E: hmontero@stoeverglass.com

Municipal bonds have been called "the second safest investment" after U.S. Treasury bonds. Tax-exempt municipals, with $3.7 trillion of bonds outstanding, have a default rate (meaning you didn't get your money back) of less than one-half of a percent over 20 years. Those default rates are small, even after taking into account the 2013 bankruptcy of Detroit, and the current troubles of Puerto Rico's $70 billion of bonds in distress. But that doesn't mean that all municipal bonds are equal. 

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