- We’re in the midst of a pretty significant outflow cycle - $20 billion-plus out of the municipal asset class to start the year.
- The impact on prices has been further compounded by tax-related selling. There’s also an increase in supply on the horizon.
- Major muni indices are now down somewhere between 6% and 8% to start the year. That’s the worst start to the year in 40 years.
- There’s been a big adjustment to relative valuations, and historically, these are attractive entry points for the tax-exempt muni market.
For further details see:
Why The Time May Be Right For Munis