Today’s complex, fragmented, fast-moving muni market is rapidly outpacing the capability and capacity of traditional portfolio-construction methods.
Municipal bond issuers’ financial health and resiliency—which helped in 2020—should support opportunities for active muni investors in 2021.
States face revenue shortfalls from COVID-19 costs and shutdowns. We look under the hood to assess how some of the most indebted states are faring.
Fearing rising rates, some municipal investors have sought protection in passive laddered portfolios. The strategy’s seeming simplicity packs a lot of allure—but also hidden risks.
