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Municipal Bond Premiums: Separating Fact from Fiction

August 17, 2022
Understanding premium municipal bonds can be difficult for even the most seasoned investors. Munis are underwritten with a laundry list of complexities such as yield, maturity, call date, duration, and credit. The myth that investors lose the premium at maturity isn’t only false, it may also lead to poor decision-making as focus shifts to avoiding premium municipal bonds altogether. Once investors can tell the difference between fact and fiction with regard to premium prices of municipal bonds, they’ll be prepared to make decisions leading to better investment outcomes.

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Jonathan Rocafort, CFA

Managing Director, Head of Fixed Income Solutions

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Evan Rourke, CFA

Director, Portfolio Management

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