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Which is why I sell boring, but stable municipal bonds. Capital preservation with tax free income.”
Tell that to Detroits bond holders. Coming soon to Chicago and LA and ....
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LOL. $4 Trillion dollar market, 2 million CUSIPS/issues, 42,000 issuers, and only 500 or so distressed issues. A couple of DOZEN in default.
Your concerns are misplaced.....akin to saying "DONT FLY!"...a plane crashed! (whilst failing to mention the hundreds of thousands of takeoffs and landings everyday).
Would I buy Detroit bonds? Sacramento? Decade long Democrat controlled enclaves? NO. I focus on the other 98% of the issues.
There IS value to be had, even in this market rate environment, if munis are suitable for your objectives.