Muni Bonds Plummet as Virus Fallout Throws Market into Freefall
- 10-year municipal-bond yields climb as much as 24 basis points
- Municipals are getting ‘mauled’ as retail investors pull back
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For days, there was one corner of U.S. financial markets that seemed oddly impervious to the turmoil wreaking havoc this month: the municipal-bond market.
On Wednesday, the comparative calm in the safe haven of the state and local debt market came to an end as prices were poised for their worst drop in at least nine years.