Volatility Returns in Muni Market’s Worst Quarter Since 1994
- Benchmark yields saw biggest jump since April 2020 on Tuesday
- State and local debt has lost 5.5% in 2022: Bloomberg indexes
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Volatility has come roaring back in the municipal-bond market.
The $4 trillion state and local-debt market just logged its most volatile 10-day period since the early 2020 selloff, according to data compiled by Bloomberg. Benchmark yields rose as much as 11 basis points on Tuesday, driving the market to its worst day of performance since April 2020. AAA yields rose as much as 2 basis points as of 4 p.m. on Wednesday.