Some of the talk around Detroit's bankruptcy filing was how it might effect the municipal bond market. Although also citing other factors, an article in the Detroit News at least implies that the filing is tending to push rates up for other muni bond sales.

http://www.detroitnews.com/article/2...text|FRONTPAGE

I know one of the filings was for a pension fund, but the Genesee County sewer project should have been backed by revenue. I get the impression that it's going to be hard to do a major iinfrastructure project [[or at least get financing for one) for a while......