FYI: Patrick Luby is the senior municipal strategist at CreditSights.
Year-to-date, the municipal market has outperformed the U.S. Treasury and corporate markets. While the municipal High Yield index is one of only two major subindices with positive year-to-date returns, the other major muni indices have performed well so far this month.
Further price support could come from potentially heavy reinvestment demand over the next three months.
Regards,
Ted
http://www.etf.com/sections/features-and-news/why-summer-heats-muni-bond-ets
