So... what ETFs would have large exposure to Illinois's bonds (or junk rated municipal bonds in general)? I'm confident that they will eventually work out a budget deal, AFTER they get hit with junk bond status and schools start to shutdown. Even if the budget still fails to get through, they're going to have to pay the interest payments on their debts.
One of my friends' parents already had to leave their jobs at an university in Illinois, and mentioned that they expect the research labs around the campus to be fairly empty within 1-2 years due to budget cuts. The parents' entire research team packed up and moved to another university that offered funding.
Submitted July 05, 2017 at 08:04PM by COMPUTER1313 http://ift.tt/2tiM8a2
