Recent Commentary
MMA Muni Outlook > June 2009
Market Summary
Municipals Cumulatively Weaker
The municipal market displayed price performance in early June that was comparable to the same period a year ago. Specifically, the tax-exempt market extended the weakness, that began following the price peak on May 21, into the middle of June. For the third consecutive year, municipal performance was negative through the large June 1 reinvestment period. The adverse conditions again caught many participants off-guard despite the preponderance of data that argued for caution... (For continuation of Outlook, click link below.)