US municipal bond quarterly market recap and outlook
Get an update from the Invesco Municipal Bond team on the muni bond market and their outlook on what may be ahead.
Get expert insight and perspective on what’s happening in the muni market including supply and demand, credit trends, and a quick look at key muni data points, in our biweekly update.
Read the latest update.
Learn about our municipal capabilities.
US municipal bond quarterly market recap and outlook
Get an update from the Invesco Municipal Bond team on the muni bond market and their outlook on what may be ahead.
State of the state
The Invesco Municipal Bond team provides an overview of credit fundamentals in California, New Jersey, New York, Pennsylvania and the impact on municipal bond shareholders in each state.
Anatomy of a municipal comeback
Investor behavior can have a big impact on municipal bond investment results over time. There are three risks to avoid, according to the Invesco Municipal Bond team, when investing in municipal bonds funds
Important information
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Municipal securities are subject to the risk that legislative or economic conditions could affect an issuer’s ability to make payments of principal and/or interest.
Junk bonds involve greater risk of default or price changes due to changes in the issuer’s credit quality.
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations), and investors may not get back the full amount invested.
The values of junk bonds fluctuate more than those of high-quality bonds and can decline significantly over short time periods.
All fixed income securities are subject to two types of risk: credit risk and interest rate risk. Credit risk refers to the possibility that the issuer of a security will be unable to make interest payments and/ or repay the principal on its debt. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.
Municipal bonds are issued by state and local government agencies to finance public projects and services. They typically pay interest that is a tax in their state of issuance. Because of their tax benefits, municipal bonds usually offer lower pre-tax yields than similar taxable bonds.
All data provided by Invesco unless otherwise noted.
The opinions expressed are those of the author, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals.
Invesco does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. It is not intended or written to be used, and it cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer under US federal tax laws. Federal and state tax laws are complex and constantly changing. Investors should always consult their own legal or tax professional for information concerning their individual situation.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
Past performance does not guarantee future results. An investment cannot be made into an index.
Forward-looking statements are not guarantees of future results. They involve risks, uncertainties, and assumptions; there can be no assurance that actual results will not differ materially from expectations.
There is no guarantee the outlooks mentioned will come to pass.
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