It’s been a tough year for muni bonds with investors cashing out amid rising interest rates. But higher yields and strong credit may be sparking a shift.
It's been a tough year for municipal bonds with investors cashing out amid rising interest rates.
But higher yields compared to U.S. Treasurys and strong credit ratings may be sparking a shift, experts say. "I think that public finance upgrades will outpace downgrades in 2022," said Tom Kozlik, head of municipal research and analytics at HilltopSecurities.. However, higher yields and strong credit may be sparking a shift, experts say.
While investors piled a record-breaking $96.8 billion of net money into U.S. muni mutual and exchange-traded funds in 2021, weekly inflows have been negative for most of 2022, according to Refinitiv Lipper data. Last week's numbers were still negative, but outflows slowed significantly, signaling more interest, according to Tom Kozlik, head of municipal research and analytics at HilltopSecurities.Download NBC 5 Dallas-Fort Worth
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