11/17/2008

President-elect Barack Obama's promise to upgrade infrastructure could benefit the municipal bond market. That pledge could give states more federal funds and a greater need to borrow in the market. "We think munis will be a good relative value in the long term, and we have seen some quality spreads widening out quite dramatically," said Ron Schwartz, managing director and director of tax-exempt management at Stable-River Capital Management LLC.

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