This week’s muni market selloff has opened a window to buy, according to strategists at Wall Street firms.
Muni yields surged dramatically earlier this week, following a selloff in US Treasuries as signs of a strong economy caused investors to pare back expectations for interest-rate cuts. On Thursday, muni bonds rallied.
But as of Friday morning, the 10-year benchmark yield was still 26 basis points higher than where it started this week. Muni bonds are poised for their worst week of performance in a year, according to Bloomberg indexes.
Bloomberg Markets
By Amanda Albright
October 25, 2024