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If taxes go higher, will munis be hurt?

edited May 2021 in The Bullpen

If taxes go higher, will munis be hurt?
Paul M. Drury, CFA, Portfolio Manager, and Garrett L. Hamilton, CFA, Portfolio Manager, 05/11/21

The president has made proposals for individual income tax increases
As proposed, we would not expect the modest increase in the top federal income tax bracket to have a large impact on taxable equivalent yields
We would not expect muni/U.S. Treasury yield ratios to move abruptly with the proposed changes to the top income bracket****

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