6/25/2013

Despite attention given to financial problems in Jefferson County, Ala., and Detroit, the U.S. is not facing a wave of municipal bond defaults, according to The Economist. "The concern for the municipal-bond market is less about an imminent deluge of defaults, and more about the lasting precedents set by places like Detroit," the magazine notes. "Cities and states face huge long-term pressures from health-care costs and pension obligations."

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