Summary: Despite the COVID cloud hanging over the municipal bond market, municipal bonds continue to rally and move into “rich” territory relative to corporate bonds.
Summary: Demand for munis push yields lower in the belly of the curve. Muni ETFs approach $63billion in assets.
Summary: Post election demand for tax-exempt municipal bonds sparks a rally in November.
Summary: Munis rally post-election as prospect of future higher taxes pushes demand higher.
Summary: In a period of high volatility leading up to the elections, the appetite for municipal bonds has been waning. The result is muni yields continue to move in the wrong way, making investment grade munis relatively cheap v. corporate bonds.