UBS On-Air: Market Moves
Top of the Morning: Muni Market - Trending tax topics
Apr 30, 2024
Kathleen McNamara and Jeannine Lennon discuss tax considerations and developments in the muni market. Topics include muni-related portfolio themes, market performance drivers, impacts of rising muni yields on investors, wealth taxes in the US, and tax considerations in the municipal market.
09:15
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Muni market yields at 5-month high, outperforming taxable fixed income, signaling potential inflows.
- Exploration of wealth taxes, highlighted by pending Supreme Court case on taxing unrealized income.
Deep dives
Municipal Market Performance
Recently, amid the potential delay in rate cuts until later in 2024, municipal yields have risen to a five-month high, with muni paper showing better performance compared to taxable fixed income. Despite a 1.1% decrease in munis since mid-March, they have fared better than US Treasury securities and corporate debt. The increase in muni yields has allowed investors to lock in attractive yields, especially at the longer end of the curve, hinting at a probable shift towards inflows in muni funds.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
