Municipal Bond Question
Was reading recently about a state hospital bond offering: rate 6.125 yield 7.10 maturity 2024. Pardon me, but this seems like a "great" deal, so.......why isn't every investor and his brother not devouring these muni bonds? Forget the stock market and CD's etc, why not just own muni bonds and collect the interest/dividend checks every 6 months, assuming the municipality or project is relatively safe and the return is free of state and federal taxes if you live in the same state. This would on the surface seem like a FIRE no-brainer.
Disclaimer: My question doesn't apply if you live in California or NY(horrible bond risk)