Municipal Bond Market Insight - The Comeback and the Clock

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:

Munis rebounded sharply in April to lead fixed income performance over Treasurys and corporate bonds.

Strong inflows to muni mutual funds and growth in separately managed accounts helped offset robust issuance.

Yields are still attractive, especially in intermediate and longer maturities, but summer reinvestment flows could potentially push yields down, so timing matters. 

The better buying opportunities we highlighted last month endure at the intermediate and long ends of the muni yield curve.