Municipal Bond Market - Record-Setting Mutual Fund Inflows
The municipal bond market experienced another quarter of positive performance, up 0.74%, bringing the year-to-date return for the Bloomberg Barclays Municipal Bond Index to 7.54%. The year’s strong performance was fueled by declining U.S. Treasury bond yields, record-setting tax-exempt mutual fund inflows, and manageable amounts of newly issued municipal bonds.
The Bloomberg Barclays Municipal Bond Index is a market capitalization-weighted index that measures the long-term tax-exempt bond market. The index is calculated on a total return basis. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and is not available for direct investment.
The commentary is the opinion of the subadviser. This material has been prepared using sources of information generally believed to be reliable; however, its accuracy is not guaranteed. Opinions represented are subject to change and should not be considered investment advice or an offer of securities.
Past performance is not indicative of future results.