After 54 consecutive weeks of inflows, the municipal bond market experienced its first set of outflows during November. The culprit? Increased municipal bond volatility, partly driven by post-election uncertainty and the perceived value of the tax exemption going forward. And as investors’ concern grows, and some are tempted to take action, we thought it important to share our perspective. Spoiler alert! Our advice, which may sound familiar, is: remember that with volatility comes potential opportunity, keep your long-term objectives top-of-mind, and stay the course.
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