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Municipal bonds usually have lower yields than U.S. Treasuries of the same maturity because ____....

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Finance

Municipal bonds usually have lower yields than U.S. Treasuries of the same maturity because ____.

(a) the municipals have a higher credit rating

(b) the municipals are more liquid than the Treasuries

(c) the municipals are part of the trading portfolio of every large investment bank

(d) the interest on municipals is often triple-tax exempt

(e) all of the above

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