Summary
- Technicals and politics kept muni returns resilient to government rate rises… until now.
- While Treasuries have been selling off (pushing up their yields) on the reopening of the economy and inflation expectations, municipal bonds (munis) had remained resilient.
- For potentially more resilient performance in the face of rising Treasury rates, we believe investors should consider high-yield municipal bonds.
Seeking Alpha
Mar. 03, 2021