Barron's
Subscribe
Income Investing
What Municipal-Bond Investors Should Do Now
By Alexandra Scaggs
April 19, 2019 7:30 a.m. ET
Photograph by Andrew Butler
Changes to the U.S. tax code have been good for the state and local government debt market—possibly too good.
Individual investors have been putting cash into municipal bonds at a near-record pace this year, in search of tax-exempt interest income to offset larger tax bills. For fund managers, a flood of cash into a market is normally a reason to celebrate. But they have a problem: State and local governments haven’t been issuing enough new debt to match the increase in demand.
...
https://www.barrons.com/articles/what-municipal-bond-investors-should-do-now-51555673401
