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Summer Strength and End-of-Year Outlook  


Author:  Matt Fabian.; Matt Posner.


Source: Volume 30, Number 02, Summer 2009 , pp.85-91(7)




Municipal Finance Journal

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Abstract: 

As with other asset classes, the municipal market’s recovery has continued through most of 2009, culminating in a nine-week rally that produced record low yields by the end of September. For municipals, summer strength was the direct product of a supply/demand imbalance between massive new inflows into the tax-exempt fixed income mutual funds and—because of the generous federal subsidy given to Build America Bond issuers—a smaller calendar of new tax-exempt product.

Keywords: 

Affiliations:  1: Municipal Market Advisors; 2: Municipal Market Advisors.

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