Municipal Bond Market Insight - Capture the Curve

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:

 Municipal bonds continued to strengthen their year-to-date (YTD) leadership position over Treasurys and corporate bonds in June.

July continues the seasonal shift in the tax-exempt marketplace that’s price supportive, marked by robust reinvestment demand and likely lighter summer supply.

 Intermediate and long muni yields remain historically compelling despite the mild second-quarter rally.

 The slope of the muni yield curve beyond 10 years remains twice as steep as Treasurys and beckons investors seeking to lock in yields by extending duration where appropriate.