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Business / Economy Economy

A First-Ever Default Shakes an $80 Billion Corner of Muni Market

Source: bloombergMarkets June 17, 2026 · 10:25
More than two decades after Wall Street started pumping out a new type of bonds — those backed by the legal-settlement payments governments receive from cigarette companies — one batch has finally been driven into a default. It almost certainly won’t be the last.
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