The collapse in high-yield muni bond ETF prices might be the dumbest thing I've seen from this crash. $HYD and $HYMB are trading at 10%+ discounts. Someone explain why these bonds aren't money good.
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Out of my area of competence but could towns/counties etc. not go bust? Sales tax receipts will go way down. Property taxes may be stayed. Excise taxes will also fall. States who have greater ability to raise funds may prevent cities from getting their tax dollars.
