Treasury Curve Bear-Steepened; Muni Yields Higher - Muni Fortnightly, August 31, 2020
Published Sep 6, 2020 on Seeking Alpha

Seeking AlphaTreasury Curve Bear-Steepened; Muni Yields Higher - Muni Fortnightly, August 31, 2020Sep. 6, 2020 1:50 AM ET|| Includes: AFB, BAF, BBF, BBK, BFK, BIL, BKN, BLE, BSD, BYM, CXH, DFVL, DFVS, DMB, DMF, DSM, DTF, DTUL, DTUS, DTYL, EDV, EGF, EIM, EIV, EOT, EVN, EXD, FIBR, FLMB, FMB, FMN, GBIL, GOVT, GSY, IEF, IEI, IIM, IQI, KSM, KTF, LEO, MAAX, MEN, MFL, MFM, MFT, MHD, MMU, MNP, MQT, MQY, MUA, MUB, MUE, MUH, MUS, MUST, MVF, MVT, MYD, MYF, MYI, MZF, NAD, NEA, NEV, NIM, NMCO, NMI, NUV, NUW, NVG, NXP, NXQ, NXR, NZF, OIA, PBND, PLW, PMF, PML, PMM, PMO, PMX, PRB, PST, PVI, PZA, RISE, RVNU, SCHO, SCHR, SHV, SHY, TAPR, TAXF, TBF, TBT, TBX, TFI, TLH, TLT, TMF, TMV, TTT, TYBS, TYD, TYO, UBT, UST, VFL, VGIT, VGLT, VGM, VGSH, VKI, VKQ, VMO, VTEB, VUSTX, XMPT, ZROZby: BairdBaird Investment strategistRobert W. Baird.cls-1{fill:#024999;}SummaryThe Treasury curve bear-steepened and muni yields followed higher.
Moody’s: Covid-19 will result in state and local government austerity and higher leverage.
Moody’s: July rating changes balanced between positive and negative despite pandemic.
Lipper: Muni funds have 16th consecutive weekly net inflow.
S&P Puerto Rico Total Return Index +4.47% year-to-date.
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