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Bond is backed by the collateral, when the bond issuer is defaulted the assets pledged under collateral will be liquidated and payouts to the bond

Bond is backed by the collateral, when the bond issuer is defaulted the assets pledged under collateral will be liquidated and payouts to the bond holders. if the bond is issued under municipalities, backing of the bond is the government's credit profile default rate is almost 0 and the yield is also comparably low.

Can you collect on a bond if it defaults?

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