Muni Defaults Down at Midyear, State Budgets on Time-Barrons

Despite cities such as Stockton making headline news for refusing to honor its debt obligations, the number of defaulted municipal issuers is actually down by 32% from the first half of 2011.  The total dollar amount of defaulted muni bonds is down to $800 million from $1 billion over the same time period last year.  This is very good news for both investors in municipal bonds, and the bond insurance companies such as AGO, and MBI.

http://blogs.barrons.com/incomeinvesting/2012/07/10/muni-defaults-down-at-midyear-state-budgets-on-time/?mod=BOL_hps_blog_ii