Know your way around muni bonds in a post-Detroit world; an opaque but largely stable market

  • by: CHRISTINA REXRODE , AP Business Writers
  • Updated: August 2, 2013 - 4:10 PM

NEW YORK — When Detroit became the biggest city in U.S. history to file for bankruptcy last month, it turned public attention to the municipal-bond market, where cities and states go to borrow money. Was this sleepy, often-overlooked area of the financial world actually dangerous?

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