No. of Recommendations: 1
I've seen a few things on the news about a big decline in tobacco use in the last year or two, so I googled some article yesterday, and saw a few things that said smoking was down way more than predicted, and another quote that said for the first time in US history, less than 1 in 20 was smoking (or using tobacco, or starting to smoke/use tobacco, one of the two). I just skimmed the articles real quick, don't quote me.
Some bond analysts said this trend puts tobacco munis at greater risk of default.

I believe some tobacco bonds in some states are still dependent on final court rulings/appeals yet to be made.

I guess one could get into demographics to find out which state has the most smokers. I wonder if tobacco sold on Indian reservations gets taxed by the state and produces revues for these bonds.

I do have a small amount of money invested in long term California zero-coupon bonds, yielding about 10% to maturity. These bonds did get a small bump up in price this past quarter...that might be just from the shortage of muni issues being offered this past quarter, despite the outflow of money from muni funds.

I did glance at the muni offerings of FSM, and it seemed their list was fairly short compared to a year or two ago.

Red Sox are on a tear.

Happy Easter.
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