{"id":194933,"date":"2008-08-07T19:23:00","date_gmt":"2008-08-08T00:23:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/07\/municipal-bond-rates-skyrocketing\/"},"modified":"2008-08-07T19:23:00","modified_gmt":"2008-08-08T00:23:00","slug":"municipal-bond-rates-skyrocketing","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/07\/municipal-bond-rates-skyrocketing\/","title":{"rendered":"Municipal Bond Rates Skyrocketing"},"content":{"rendered":"<p>One consequence of the credit crunch is that even with a Fed Funds rate of 2%, interest rates for <span style=\"font-weight:bold;\">everyone<\/span> are going up.<\/p>\n<p>Nowhere is this more obvious than in <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=aAjM9j4K4v4U&amp;refer=home\">municipal bonds<\/a>, where you also have the collapse of the monoliner insurers making getting a good rating more difficult.<\/p>\n<p>The article gives an example, where the Bay Area Toll Authority refinanced $700 million in bonds at 5.33%, when last year it was 4%.  <\/p>\n<p>That&#8217;s an additional $9.31 million that they have to carry, and we are seeing this across the country, so new roads and bridges, and needed maintenance on existing infrastructure, are all being deferred.<\/p>\n<p>I don&#8217;t see it getting any better for a while.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One consequence of the credit crunch is that even with a Fed Funds rate of 2%, interest rates for everyone are going up. Nowhere is this more obvious than in municipal bonds, where you also have the collapse of the monoliner insurers making getting a good rating more difficult. The article gives an example, where &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1038,1004,1009],"tags":[],"class_list":["post-194933","post","type-post","status-publish","format-standard","hentry","category-budget","category-finance","category-government"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194933"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194933"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194933\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}