Premium to Humility (guest: Neil Azous)
The Market Huddle
00:00
How to Make Money on Municipal Bonds
The municipal bond closed and funds have very high distribution yields. When it re-rates outside of a hiking cycle, they're traded at a hefty discount to their net asset value. You will see that tighten from a very wide area right now. And then finally, if you find a specialist like us, there's opportunities to rotate amongst the cheapest to the most expensive and generate or capture additional alpha in that process.
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