After initial optimism at the start of 2023 spurred strong performance, munis subsequently struggled as the Fed continued its tightening policy, raising fed fund rates to 5.25%−5.50%, before pausing in September.
Market Update from BlackRock's municipal bond team.
Market update from BlackRock's municipal bond team.
Municipals posted another month of positive performance amid rangebound interest rates.
2021 market outlook from BlackRock's municipal bond team.
Municipals posted modestly negative total returns in October, with the S&P Municipal Bond Index finishing the month down -0.14%. Interest rates moved higher as economic data remained firm...