Lately, some munis have offered tax-free yields of more than 6%.

近来一些市政公债所提供的免税收益率超过6%。

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The decision by some raters to change the scale they use to rank munis has not helped.

评分者的决定去改变他们过去评级市政债券的规模的方式也不能帮助发行者减轻压力。

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Until this year, munis almost always yielded less than Treasuries because of their tax benefits.

直到今年以前，市政债券的收益率几乎总是赶不上国债，因为市政债券有税收优惠。

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Capital gains taxes, however, must be paid on "munis" when the bonds mature or if they are sold for more than the investor's purchase price.

然而必须在债券到期日，或投资者以高于债券买入价出售债券时交纳资本利得税。

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Capital gains taxes, however, must be paid on "munis" when the bonds mature or if they are sold for more than the investor's purchase price.

然而必须在债券到期日，或投资者以高于债券买入价出售债券时交纳资本利得税。

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