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Muni Bond Perspective: Approach High Yield With Caution In 2020

johnNjohnN
in The Bullpen
https://seekingalpha.com/article/4319673-municipal-bond-perspective-approach-high-yield-caution-in-2020

Bond Perspective: Approach High Yield With Caution In 2020
Jan. 28, 2020 10:30 PM ETACP, AFB, AIF...1 Comment
Summary
The municipal bond market presents a number of unique features and characteristics that set it apart from traditional asset classes.
Only around 10% of the municipal market would be considered below investment grade, based on the traditional breakdown of credit ratings (i.e., bonds rated BB and below).
Historically, wider spread levels have provided opportunities for credit selection to drive incremental upside results, given the potential for spread compression amid improving fundamentals.
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