Along with the scarcity of bond insurance, that could make life even harder for smaller borrowers whose principal appeal was their tax-exempt status.

随着债券保险的缺失，这使得较小的借款者(他们最主要的吸引力是他们的免税地位)，生活更艰难。

youdao

That is because interest on municipal bonds is generally tax-exempt. Investors accept a lower yield on a muni-bond than on a comparable Treasury bond on which they pay tax.

那是因为市政债券的利息一般是免税地，所以相较于收税的国债，投资者愿意接受收益率更低的市政债券(原译：投资者承认相较于收税的国债，市政债券的投资收益更低)。

youdao

The deal is one of the largest mixes of taxable and tax-exempt bond deals of its kind.

FORBES: Booze Sales to the Rescue! Ohio Bond Deal Touts Job Creation

Barnet Sherman is a director and the portfolio manager of the TIAA-CREF Tax-Exempt Bond Fund at TIAA-CREF.

FORBES: Move up http://i.forbesimg.com t Move down

"This was a very big curve ball, " said Jay Wheatley, head of the tax-exempt bond syndicate desk at Citigroup.

WSJ: Tax-Cut Deal Results in Turmoil for Bonds