Summary
- We believe there are opportunities in the short end of the municipal market.
- While investment grade municipals have rebounded, high yield continues to lag due to concerns over future economic growth and the level of economic stress that lower-rated municipal bonds may be able to handle.
- ESG analysis has been incorporated into the credit process, including quantitative and qualitative reviews of ESG-related risks and their potential impact on an issuer’s credit profile.
Seeking Alpha
Aug. 7, 2020