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Investing in the High Yield Municipal Market: How to Profit from the Current Municipal Credit Crisis and Earn Attractive Tax-Exempt Interest Income by Triet Nguyen

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CHAPTER 1

The Basics of High Yield Municipal Bonds

For most investors, the mere mention of high yield recalls the high-risk, speculative “junk bonds” of the Michael Milken era and its well-documented excesses. In the municipal arena, high yield also means higher risk, but the term encompasses a much broader class of securities with an astonishing variety of security structures and risk characteristics.

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