July 22, 2013

Expect Long-Term Price Losses For Michigan Bonds – LPL

From Barrons.com

By Michael Aneiro

Detroit’s proposed treatment of its general obligation bondholders in its restructuring plan has Nuveen questioning the value of Michigan’s state-level GO bonds following Detroit’s bankruptcy filing. Anthony Valeri of LPL Financial also cautions that Michigan bonds could get hurt in the long-term. From Valeri:

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