Munis’ Recent Rally: The January Effect? Sorta, Says CitiMani
The municipal bond market’s sharp rally in 2014 reflects a strong decline in Treasury yields, where the 10-year and 30-year yield was off 18 and 19 basis points over the same period, notes Citi in its recent research report.
George Friedlander and team at Citi Research believe there has been at least a bit of a “January effect” pattern behind the solid performance.
Munis’ recent rally
The Citi analysts note that since year-end, the municipal . . .
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