When typing the title to this post, I showed my hand-brain disconnect and typed minus. Same letters, interesting meaning.
The conversation about state defaults and municipal bonds failing seems to have died down. Build America bonds, whatever they are (federally subsidized taxable bond sales by states and municipalities), are not part of the tax plan. California's Governer Moonbeam is supposed to be giving citizens a choice of higher taxes or lower spending - sure, I'll pay more or get less! Blue states, which send in most of the money to DC, are whining about sending more than they get back yet want to tax the rich more.
Blah, blah, blah. I turn to tube off as soon as any politician starts with the partisan speak.
You know where we should get out cues? The market. Check this out.
The muni-bond ETF had just what I called it last month - a dead cat bounce. How high will a dead elephant bounce? A dead 800-pound gorilla?
Funny, the market is pure capitalism, isn't it. And it tells us the truth.