Municipal bonds have long been a favorite of those who fall into high tax brackets, as the favorable treatment of dividend and principal payments can translate into an impressive taxable equivalent yield. These debt instruments are issued by state governments and local municipalities, and are generally supported by either the taxing power of the or [...] Related Stories: PIMCO Launches MUNI Bond ETF California Muni ETFs: Value Play Or Sucker’s Bet? Top Ten Bond ETFs Of 2009