Municipal Bond Market Insight - The Long View

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:

Fixed income yields rose sharply in September amid concerns about rising inflation, the Federal Reserve’s policy path and interest rates remaining higher for longer. 

 Yields across the municipal market are now near their highest levels in 20 years, while credit quality remains broadly stable.

 The shift toward higher yields has created a compelling opportunity for tax-loss harvesting.

 Muni tax-equivalent yields are nearing levels commonly associated with equity returns.