Black Friday Sales attracts thousands to the mall every year. Fighting, literally fighting for deals, make the headlines on the local news.
However, when investment grade Municipal Bonds are on sales, most investors sell and shun them.
Since September, we have seen the highest yields for IG MuniBonds in over 15 years and interest remains weak
- Investor sentiment measured by MuniBond mutual funds remains tepid as outflows totaled $6.50 Billion in October.
- Ytd total for MuniBond mutual fund outflows are above $36 Billion through October 31st 2023.
- The Bloomberg screenshot is accredited to our friends on the Piper Sandler Fixed Income Desk, whose research we respect.
- We see a massive 50bps shift in the AAA MMD yield curve between September 20th 2023 and October 24th 2023
We can not and refuse to time the municipal bond market.
This might be the top or yields might go higher.
Locking in a triple tax exempt IG MuniBond yielding above 4% for an investor in a high tax bracket is not a bad move if peace of mind and predictability are desired.
The 6 month or 1 year "Treasury Bill and Chill" has many pros and cons. Email me to discuss.
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