Muni Investors Put ‘Buying Shoes’ Back on After 3-Month Slide
- State, local debt rebounds with biggest weekly gain since July
- Calm in Treasuries is helping, Neuberger Berman’s Iselin says
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The municipal-bond market is seeing a bullish vibe re-emerge after the longest streak of monthly losses since 2016 put a dent in what has otherwise been a robust year for the securities.
The $4 trillion market for state and local debt is coming off its strongest week since July, according to Bloomberg indexes. What’s more, the flood of cash into muni mutual funds, a key driver of the debt’s outperformance in 2021, has picked up again.