NorthernTrust-logo For a segment of the domestic fixed income market long renowned for its relative tranquility, municipal bonds have received plenty of attention lately. Muni bond price volatility spiked in 2010's fourth quarter as investors focused on the credit ramifications of state and local government fiscal stresses stemming from the Great Recession and residential real estate debacle. In the first quarter of 2011, new issuance of tax-exempt bonds fell by more than half compared to last year and to the lowest level in more than a decade. - read more