FYI: The world’s biggest asset manager is a big bull on the $3.8 trillion municipal-bond market.
Sean Carney, managing director and head of state and local government debt strategy at BlackRock Inc., said in an interview that he expects the securities to return as much as 4 or 5 percent in 2019 if the Federal Reserve moves closer to pausing on interest-rate hikes. That compares with a 0.7 percent return this year, when rising rates weighed on bond prices, according to Bloomberg Barclays indexes.
Regards,
Ted
https://www.fa-mag.com/news/blackrock-comes-out-as-bullish-on-muni-bonds-heading-into-2019-42334.html?print
