Summary
- The bond fund outflows of March followed the downdraft in oil prices caused by the onset of the pandemic, which caused the sharp sell-off in the stock market.
- The rebound at the end of March was one of the most vigorous muni rallies ever witnessed.
- Muni yields across the board are significantly lower than they were at the start of the year, and in the short end they are MUCH LOWER.
Seeking Alpha
Dec. 30, 2020