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The State of Connecticut can currently borrow money in 10 years at 0.65% - the same yield as the US Government. Is the market saying

The State of Connecticut can currently borrow money in 10 years at 0.65% - the same yield as the US Government. Is the market saying that the State of Connecticut is as good of a counterparty risk as the Federal Government? What is the right way to evaluate this relationship? Do the calculation assuming a 20% tax bracket..

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