BAF - Is The Muni Bond Market Positioned For Its Moment In The Sun?
By Catherine Stienstra
As we kick off the historically positive summer months for the muni market, investors could see higher returns - but may have a hard time finding bonds.
The passage of Memorial Day has officially ushered in summer: the season of backyard barbecues, pool parties and municipal bond redemptions. The three months beginning in June are often characterized as a heavy reinvestment period - the municipal market finds itself awash with cash as bonds mature, pay coupons or get called (meaning, the bond is redeemed by the issuer prior to its maturity). This