- YIELDS ON HIGH-YIELD MUNICIPAL BONDS WERE SIGNIFICANTLY ABOVE THOSE ON IRAQI GOVERNMENT DEBT
- PERCEPTION OF RISK IN THE MUNI MARKET DOES NOT REFLECT REALITY
- FEDERAL INCOME TAXES HIGHER THAN THEY HAVE BEEN SINCE BEFORE REAGAN PRESIDENCY
- YIELD LEVELS ON TAX FREE MUNIS VERY ATTRACTIVE, ESPECIALLY COMPARED TO OTHER TYPES OF BONDS