Chicago tests war-rattled muni market with $800M bond sale – Crain’s/Bloomgerg

While muni bonds are typically seen as a safe haven for investors, debt sold by borrowers with ratings below benchmark securities carry greater risks. Chicago’s 10-year bond yields have widened more than the broader market as the city’s financial stress mounts. The average yield on long-dated Chicago bonds this month has jumped 23.6 basis points to above 4%, compared with the benchmark rising about 18 basis points to 2.65%, data show.