Traded today with a 4.743% yield to maturity. If that does not seem like much, it is exempt from both federal and state income tax if you are an Idaho resident, so if you are in my marginal tax bracket, that is equivalent to 6.36% taxable yield and I consider Idaho municipal bonds pretty much risk-free. (There are advantages to having adults in charge of state government.)
I also have a theory that if Uncle Sam defaults on Treasury bonds (which used to seem like financial science fiction or financial horror) munis from grown up states will be where buyers seeking safe havens will go. This will drive up prices of those bonds perhaps allowing a pretty nice capital appreciation for those who already have such bonds.
Idaho Health Facs Auth Rev St Lukes Health Sys Proj Ser A
Traded at a yield of 5.08% at slightly below par.
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