Tax-Exempts Extend Rally as Investors Seek Safety: Muni Credit
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Top-rated, tax-exempt securities had their biggest rally since July as investors sought the perceived safety of municipal debt amid concern that Europe’s debt crisis will spread and after North Korea shelled a South Korean island.
The premium investors demand to hold Spanish government bonds over German counterparts jumped as Ireland sought aid to save its banking system. South Korea scrambled jet fighters and returned fire after North Korea shelled a border island.