The Hidden Risk In The Muni Bond Market [Seeking Alpha]
iShares Global Timber & Forestry ETF (WOOD)
US:NASDAQ Investor Relations:
ishares.com/us/products/239752/ishares-global-timber-forestry-etf
Company Research
Source: Seeking Alpha
Summary There's a coming storm in the municipal bond market, triggered by the tiny city of Lamar, Colorado, which wants to avoid servicing its share of debt as part of a power cooperative because of a broader dispute. Should a court grant its request, it could create shockwaves throughout the muni bond sector. Sure, there is always a cry whenever a municipality defaults and, sometimes, investors extrapolate one case and argue that the muni bond market will implode. The point here is not to definitively say the sky is falling, but to uncover risk that most investors are probably entirely unaware of. The risk is significant in this case because of the precedent that would be set. In 1979, six Colorado municipalities created the Arkansas River Power Authority (ARPA), which would provide electricity to its members. Cooperatives form to spread the cost of electricity-creating plants instead of each city funding its own prohibitively expensive operation. In 2004, ARPA launch
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