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Municipal Bond Market Insight - Finally on the Scoreboard: What It Means

October 14, 2025

What were the key takeaways from last month’s numbers? Our muni specialists look back at the market’s performance and provide incisive commentary to help you make sense of what drove the market—and what may be on the horizon for muni investors.

Key takeaways from the latest edition:


Muni total return is now up 2.6% year to date (YTD).


September’s price performance was the strongest monthly showing in 16 years.


Intermediate and long yields remain compelling and still offer attractive value.


Year-round tax-loss harvesting has again proved prescient thus far, but the year’s not over.

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