Healthcare gain defies $11B Medicare threat: muni credit
Municipal bonds sold by hospitals and healthcare providers are rallying the most since 2009, defying a potential $11 billion drop in Medicare funding from federal budget cuts that loom in three months. Healthcare bonds have gained 9.5 percent this year and hospital debt 9.1 percent, making them the best-performing revenue securities, Standard & Poor's indexes show. The segments are beating the broader $3.7 trillion muni market by the most in three years. The rally is poised to continue as Federal Reserve efforts to hold down interest rates spur investors to add relatively risky, higher-yielding assets.
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