For Muni Investors, It's Been a Dry January
- Performance sinks after November’s best gains in 40 years
- Bond buyers look for higher yields on new year issuance surge
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For municipal-bond performance, its been an undeniably Dry January.
So far this month, municipals posted a loss of 1.05% after closing 2023 with back-to-back months that lifted the entire year, according to data compiled by Bloomberg. Typically, munis post solid gains in January, registering a negative performance only in the Januarys of 2018 and 2022.