BSMM News and Press, Invesco BulletShares 2022 Municipal Bond ETF

Summary We believe that 2023 will be a much better year for municipal bonds as they should resume their historical role of income generation, capital preservation and offset to equity volatility. Muni investors will need to leverage the market’s many tools as conditions shift. ...

Summary As the Fed steps away from being the largest buyer of longer-maturity Treasuries, new buyers will have to step in to fill this void, which may lead to continued volatility in longer-term U.S. Treasury rates. Amid the recent spike in rates, the volatility of lower-coupon bonds in...

Summary Rate hikes and tighter financial conditions drove fixed-income returns lower in 2022. The broad repricing of bonds and the higher starting yields we have now can help insulate investors from further losses. If we look at international bonds, this is probably the first ...

Summary Social Bonds represent the majority of ESG issuance. General purpose represents the largest use of proceeds amongst ESG issuance this quarter. Majority of ESG issuance in the third quarter of 2022 has used a verifier. During the third quarter, Municipal issua...

Summary Barclays Aggregate is down almost as much as the S&P 500 YTD. As of 10/31/22, the YTD return on high yield is far better than the return on corporate high-grade. There is relative value being created in the various bond market asset classes. Looking at th...

Summary The risk of recession will weigh on muni credit; however, we continue to be constructive on munis, given improved budgeting practices and accumulated reserves or rainy-day funds. The still-tight labor market should keep unemployment low, and massive amounts of federal fund...

Summary Persistent inflation spurred the US Federal Reserve to raise interest rates aggressively in the third quarter, with 0.75% hikes in both July and September. Earnings estimates for equities had continued to climb during the early part of the year and only started to moderate...

Summary The additional yield from a municipal bond is a multiple of what it was running prior to the pandemic. When we bring up a recession scenario, it’s important to underscore the role of municipal bonds, and bonds in general, in your asset allocation. Tax-loss harve...

Summary Negative total returns were driven by a sharp move higher in interest rates. Despite manageable issuance, elevated bid-wanted activity weighed on the market. We see several reasons to be more constructive on the asset class into year-end. Municipal market ins...

Summary Despite the recent interest rate volatility, municipals have managed to do better than taxable bonds. Municipals have the same default rate as AAA-rated corporates. Adjusting for duration, municipals’ taxable equivalent yield is still superior. Municipals&#x...