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Taper Tantrum Memory Doesn’t Fade For MainStay Muni Fund Manager

TedTed
in The Bullpen
FYI: MainStay Investments is increasing the percentage of cash held in its municipal bond mutual funds as a hedge against the risk of investor redemptions if the outperforming tax-exempt market turns.
Regards,
Ted
http://www.bloomberg.com/politics/articles/2016-07-19/taper-tantrum-memory-doesn-t-fade-for-mainstay-muni-fund-manager
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