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the average 10 year single A rated General obligation bond currently trades at 1.0%. the benchmark 10 year Aaa rated UST currently trades at 1.2%.

the average 10 year single A rated General obligation bond currently trades at 1.0%. the benchmark 10 year Aaa rated UST currently trades at 1.2%. is this an aberration, an arbitrage opportunity or neither assuming a 35% tax bracket? please explain and be very specific ...ie i want to see the math

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