There’s One U.S. Market That Loves the GOP Tax Bill
- Ending private activity bonds may reduce supply as much as 40%
- Calendar bulks up as issuers rush prohibited deals to market
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Yesterday a man called and asked why it was so hard to find California municipal bonds.
He referred to himself not as an investor but a collector, which isn’t the first time someone has likened the municipal market to numismatics or philately, where you have to know a lot about the subject at hand. I told him the objects of his affection were going to get simpler, but rarer, too.