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Municipal Bonds

Research & Resources – Weekly Market Commentary

Munis Could Outperform Treasuries Post-EU (PDF)
October 28, 2011

  • The muni market weakened on Thursday but the yield increase was far less than that in Treasuries as the yield rebound in Treasuries was from a low-yield position that had been created in part by a prior flight from risk.
  • In our view, long dated tax-exempts, which have benefited from the Treasury rally, will also see an increase in yields going into the year end but should outperform Treasuries significantly.
  • We expect the issuance calendar to stay relatively heavy through mid-December, possibly keeping yields from declining, but also providing opportunities for investors to continue to restructure.
  • For more, please read the full report below.
Read the Full Report (pdf)


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