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Municipal Credit Risk and Natural Disasters

9/14/2017
By David Knutson and Larry Bellinger

Despite the enormity of this year’s hurricane season, we believe municipalities in the affected regions will be able to, by and large, manage through these latest challenges.


With winds reaching 185 mph and having swelled to the size of France, Hurricane Irma is the most powerful Atlantic storm ever recorded. After making landfall in the Florida Keys as a Category 4 storm, The Red Cross was prepared for 'a major humanitarian response' to help the millions left without power across the state. 

David Knutson
Head of Credit Research, Americas for Schroder Investment Management

Larry Bellinger
Research Analyst, Fixed Income for Schroder Investment Management


All investments are subject to risks, including the possible loss of principal. Fixed income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened because interest rates are at, or near, historical lows. Municipal securities may be adversely impacted by state/local, political, economic, or market conditions. Investors may be subject to the federal Alternative Minimum Tax as well as state and local income taxes. Capital gains, if any, are taxable. 

The views expressed herein are those of Schroders Investment Management (Schroders), are for informational purposes only, and are subject to change based on prevailing market, economic, and other conditions. The views expressed may not reflect the opinions of Hartford Funds or any other sub-adviser to our funds. They should not be construed as research or investment advice nor should they be considered an offer or solicitation to buy or sell any security. This information is current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Schroders or Hartford Funds.

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