Detroit Bankruptcy Could Change Muni Market, Chicago Fed Says - Reuters

Read the article at Reuters:

If the court agrees with pension creditors that state protections hold supreme, this could change market expectations with respect to the relative standing of municipal debt issued by cities located in states with such protections," the Fed report said, pointing to Chicago, Los Angeles, and New York City

Anyone have a link to the report?

Oh and Elliott Management's Paul Singer just wrote this in a note (via Zero Hedge):

'We see Detroit as the “coming attraction” to a significant number of municipal insolvencies in the months and years to come."
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