Individual municipal bonds are down 15% from mid November.
This price action reflects the reality the new GOP Congress will not be handing out blank checks to the states that have been overspending.
This is the only way to force politicians to deal with reality. Make them pay more to borrow money.
Yes so long Build America Bonds
SEC Probing Disclosures Of Muni Bond Prospectuses
http://www.zerohedge.com/article/sec-probing-disclosures-muni-bond-prospectuses