Wednesday, September 1, 2010

Harrisburg, Penn., will skip a municipal bond payment

Harrisburg, the capital of Pennsylvania, is planning to default on a $3.29 million payment for municipal bonds in two weeks. The incident would be the secondlargest
municipal bond default in 2010. Harrisburg's bond insurer is expected to cover the payment, but the situation is expected to fuel investor concern about the municipal bond market.

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