The record-breaking pace of muni issuance and investors’ risk-off tone toward duration have been key drivers of the municipal yield curve’s sharp steepening, leading to its underperformance relative to other fixed income asset classes. In an environment also marked by market volatility and shifting policy dynamics, the case for active management in munis has never been stronger.
In this episode of Masters of the Muniverse, Bloomberg Intelligence analyst Karen Altamirano is joined by Jason Hannon, Head of Municipal Strategy and Senior Portfolio Manager at Wilmington Trust, to discuss how this year’s market developments are shaping muni investment decisions. This is part of BI’s FICC Focus podcast series.
Aug 19, 2025