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The $4 Trillion Engine: How Municipal Bonds Build the World
Most people see bridges and schools as mere concrete and steel, but they are actually built on a mountain of specialized debt. This episode dives into the $4 trillion municipal bond market, exploring the mechanics that separate these local government assets from U.S. Treasuries. We break down the power of tax-exempt yields, the critical difference between General Obligation and Revenue bonds, and why the "serial bond" structure is the secret to sustainable city budgeting. From traditional infrastructure to modern green bonds and stadium financing, learn how this once-sleepy market has become…
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