FYI: After a strong showing in 2014 on both an absolute and relative return basis, muni bonds again emerged as a top-performing asset class in 2015. Driven by strong inflows to municipal-bond funds and a mostly benign credit environment, the national muni-bond fund Morningstar Categories were among the best-performing of Morningstar’s U.S. bond categories. Yet with the fear of additional Federal Reserve rate hikes and the muni market’s largest default looming as Puerto Rico’s credit quality deteriorated, some market watchers cast doubts on whether muni bonds would continue to their run into 2016.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=764318
