What happens in MuniLand during June-August?

Whether it was the uncertainty of higher interest rates or the U.S. Treasury defaulting, Municipal Bonds
had a rough May 2023. In other words, yields are higher and prices lower on June 1st than they were on May 1.
What is captivating is that all of this happened before the Summer Technical phenomena in MuniLand.
What happens every June, July, and August in Muniland?
1) People take vacations to be spend time with their family 
2) Billions of coupon payments and maturing bond capital need to reinvested
3) Tends to be less new supply (new deals) coming to market
What is the result?
1) What happens when demand is steady and supply is diminished?
2) Prices go up, yields go down
Email jeff@watkinsoncap.com if you wish to learn more
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