Summary
- Municipal bonds have done well since the election, since a Democratic Administration is typically good for additional state and local relief, even more badly needed this year thanks to the pandemic.
- Also, it’s pretty clear higher taxes in some form or fashion are on the way, whether it’s corporate tax increases, individual tax rates, or capital gains rates, or some combination of all three.
- With the 10-year Treasury closing at 1.13% today, it continues to creep higher as more fiscal stimulus and a stronger economy look likely in later 2021.
Seeking Alpha
Feb. 04, 2021