Reorg – Municipal Market 2022 Outlook: Fed Rate Hikes Wonʼt Bring Repeat of 2021 but Munis Can Still Outperform Other Fixed Income Classes

Wesly Pate, Portfolio Manager at Income Research + Management, spoke with Reorg about his outlook for municipal bonds in 2022.
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Original article by Anastasia Bergeron

 

Wesly Pate, Portfolio Manager at Income Research + Management, spoke with Reorg about his outlook for municipal bonds in 2022. Wesly feels that the market could see a longer outflow cycle in 2022, as munis started the year below their long-term relative value averages. He also shared that he expects munis to outperform as the Federal Reserve hikes interest rates. Munis have historically outperformed in a rising-rate environment because the growing value of the tax exemptions mitigates downward price pressure, Wesly explained.

 

Read full article here (paywalled).

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