Barron's Forsyth says smart money is piling into muni bonds

Forecasts of a wave of municipal defaults totaling hundreds of billions contrast with actual experience. S&P reported Friday that actual municipal defaults totaled $2.65 billion in 2010, equal to approximately 0.095% of the $2.8 trillion muni market, down from $2.8 billion in '09. Smart managers are buying munis, not the hysteria.

~Randall Forsyth, columnist, Barron's magazine,  "Yields Soar on Overpunished Munis", January 15, 2011