Municipal Fixed Income Quarterly Market Commentary 1Q 2019

Karleen Strayer |
Investment Management
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In the 1Q 2019 issue of our quarterly publication, we: Explore the state and local tax implications from the new tax reform legislation, from a market supply and demand perspective.Analyze the potential effects of the new tax law from a credit perspective.Provide data on the municipal market’s performance in the first quarter of the year.Strong technicals fueled first-quarter market performance as uplift from robust demand and moderate supply led to positive returns.

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Municipal Fixed Income Quarterly Market Commentary 4Q 2018

Investment Management
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In the 4Q 2018 issue of our quarterly publication, we:Provide a round-up of yields across the muni spectrum and an overview of yield curves, performance, and fund flows.Offer our outlook for 1Q19, framing it in terms of our core narrative.Explore the Affordable Care Act’s likely return trip to the U.S. Supreme Court and how it could impact credit risks within the health care sector.

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Municipal Fixed Income Quarterly Market Commentary 3Q 2018

Investment Management
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In the 3Q 2018 issue of our quarterly publication, we:Provide a round-up of yields across the muni spectrum and an overview of yield curves, performance, and fund flows.Offer our outlook for 4Q, framing it in terms of our core narrative.Explore how—in light of the rising rate environment and the lowering of bond prices—a mitigating factor that may not fully offset lower market values provides support from the income generation perspective.

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