This week saw more of news about the major financial market chaos. This may be a good time to adjust your asset allocation. The Week’s municipal bond news included:
- Rhode Island Law a Boon For Bondholders – WSJ.com. Even though Central Falls, Rhode Island declared bankruptcy earlier this month, a new State Law allows bondholders to be fully protected. Under Rhode Island law city officials who fail to pay bondholders can be removed from office or held personally liable for payments.The law is likely to be challenged in court and was passed to make Rhode Island more attractive to investors.