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Munis: Worth the Risks (If You Know Where to Look)

June 2020 
By Tim Haney, CFA

The ripple effects of COVID-19 will be felt across muni sectors, but we believe muni valuations may more than compensate investors for the increased risks.

From our sub-adviser, Wellington Management
Tim Haney, CFA


Fundamentals in some segments of the municipal bond (muni) market will likely be put to the test by the COVID-19-induced economic slowdown. However, we believe this challenging market environment creates opportunities for fundamental research to select strong credits that can weather a downturn. For investors with a long-term horizon and the ability to withstand some short-term volatility, current muni valuations may offer an attractive entry point.


Important Risks: Investing involves risk, including the possible loss of principal.