Muni Bonds Backed by Junk Companies Feel Pain of High-Yield Rout

  • Prices fall on tax-exempt debt from U.S. Steel, Marathon Oil
  • Muni high-yield otherwise stable with 10 weeks of fund inflows

The corporate junk-bond rout has mostly left few ripples in the $3.7 trillion municipal market, with one exception: Tax-exempt debt issued by the high-yield companies.

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