RMM - A Macro-Look At The Muni Market And Some Options To Consider

• Munis, both tax-exempt and taxable, had a reasonably strong first half of the year.
• A combination of a rebounding economy, stronger than expected tax receipts, and federal aid, all point to the possibility of more gains in the months ahead.
• Despite these positives, investors should remain on guard. There have been defaults in the sector, and duration risk is high for many popular CEFs.
• As a result, investors would be wise to move into shorter duration bonds/products, even those that are further down the credit ladder. But this should be done selectively.

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