It’s Trump, Not Just the Fed, Driving the Short-Term Muni Frenzy
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Donald Trump speaks during an interview in the Oval Office of the White House in Washington, D.C., on Aug. 30, 2018.
Photographer: Al Drago/BloombergThis article is for subscribers only.
It’s not just rising rates. It’s Trump, too.
That’s what Jason Ware, head of trading at 280 CapMarkets in San Francisco, offers as an explanation of short-term municipal bond yields, some of which are holding near a four-year low relative to Treasuries.