CHART OF THE DAY: The Scariest Crash Is The Muni Bond Crash

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China crashed last night, but it’s been riding a rocketship, so that’s not a huge surprise.

Commodities are crashing today, but speculative have driven those up a lot, too, so it was natural they’d get hammered.

The scariest crash right now? Muni bonds.

As Bespoke notes the National Muni Bond Fund ETF has totally fallen out of bed. This has been a big fear for a while. Between the anti-bailout GOP Congress, and the worsening situation in California, maybe people are realising this is real.

chart of the day, National Municipal Bond ETF (MUB), nov 2010

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