audreyh1
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What does today's court go ahead for the Detroit bankruptcy mean for muni bonds?
I haven't run across any analysis yet.
Detroit Is Eligible For Bankruptcy, And City Pensions Are At Risk - Forbes
One issue that had been on the table was whether pension obligations were protected from bankruptcy and looks like today's ruling takes that off the table. From what I read months ago that would have created a new precedent for muni bonds and cause a reevaluation of muni default bond risks in general.
I haven't run across any analysis yet.
Detroit Is Eligible For Bankruptcy, And City Pensions Are At Risk - Forbes
One issue that had been on the table was whether pension obligations were protected from bankruptcy and looks like today's ruling takes that off the table. From what I read months ago that would have created a new precedent for muni bonds and cause a reevaluation of muni default bond risks in general.
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