Tobacco Munis A Compelling Buy Amid Sell-Off: Citi
Citi Global Multi-Research analysts Vikram Rai and Mikhail Foux analyze the opportunity presented by beaten down tobacco bonds in their research paper “US Municipal Strategy Notes – Time to Take up Tobacco” of October 23.
Munis and Tobacco Bonds – Overall Scenario
Municipal bonds overall were not spared the carnage in fixed income following the debt ceiling crisis as well as sector specific headaches such as credit apprehensions, unrelenting mutual fund outflows and negative media publicity.
Within this space, tobacco bonds faced additional punishments . . .
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