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What effect does increasing credit risk have on securities? If I'm at the 35% tax bracket and a muni is paying 4%, what yield must

What effect does increasing credit risk have on securities?

If I'm at the 35% tax bracket and a muni is paying 4%, what yield must I get on a taxable to compete?

What factors influence the shape of the yield curve? Can I use those factors to aid my investing?

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