Municipal bonds, often marketed by US banks as a do-good line of business, are taking a hit as Wall Street looks to cut costs.
Last week, Citigroup Inc. announced it would shutter its powerhouse municipal-bond department, marking the biggest departure of an underwriter since at least the 2008 financial crisis. The firm’s exit came after years of pressures that had already forced out some small shops.
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December 21, 2023 at 12:10AM
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Citi's (C) Municipal Market Exit Adds to Public Finance Industry Pain - Bloomberg
"Exit" - Google News
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