https://www.morningstar.com/articles/985030/a-wild-ride-through-munilandUsually a relatively stable part of the market, munis have seen an uptick in volatility in the past several months.
Mentioned: Fidelity® Interm Muni Inc (FLTMX) , T. Rowe Price Summit Municipal Intm Inv (PRSMX) , Vanguard Interm-Term Tx-Ex Inv (VWITX) , Vanguard Tax-Exempt Bond Admiral (VTEAX) , T. Rowe Price Summit Municipal Intrm I (PRTMX)
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Municipal-bond strategies saw record inflows in 2019, as investors poured a massive net $117 billion into open-end muni funds from the start of that year and through the first two months of 2020. That amount dwarfed the annual gains of each of the past 25 years, including the group’s previous boom year of 2009, which brought in roughly $75 billion. Investors’ fervent demand for munis was stoked by a variety of factors, including continued economic growth in many parts of the United States, which supported solid credit fundamentals and low default rates of muni issuers.
