Investing - Theory, News & General • Are General Obligation (GO) bonds materailly safer than revenue bonds?

In a recent thread on muni bonds (viewtopic.php?t=475627, several respondents stated that they limit themselves to AA or AAA general obligation (GO) bonds. My take has always been that when talking about AA or AAA muni bonds, the risks are already so low that the difference in risk between GO and other types of muni bonds is too small to be meaningful. The data (see Moody's US municipal bond defaults and recoveries, 1970-2022, Exhibit 18, page 18 seems to support this.

What do other Bogleheads think?

Statistics: Posted by Elric — Wed Sep 30, 2026 5:49 pm