Stoever Glass & Co., Inc.
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State general obligation bonds offer the safest returns in the municipal bond industry. Statistically, the U.S. is in its eighth year of economic recovery. In times like this, all boats usually rise with the tide. But in 2016 alone, Standard and Poor’s raised only two state ratings (Hawaii & Tennessee), but downgraded eight states (Alaska, Connecticut, Illinois, Kansas, New Jersey, New Mexico, North Dakota and West Virginia). That’s a decline of 16 percent of state ratings, when the average downgrade rate for all municipal bonds is approximately 5 percent per year.
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