1121 ET - An increase in municipal bond yields this month means the securities are generally cheap, Morgan Stanley's Craig Brandon says. Munis have been selling off because investors are worried about volatility in the broader market, not because munis' fundamentals worsened, Brandon says. Bonds supply has also increased as local governments try to get ahead of any potential change in munis' tax exemption. "If you have some money, it is a good time to invest right now," he says. Brandon expects munis to rally later this year if tax changes turn out to be less aggressive than feared, while issuance drops and the Fed cuts interest rates. (paulo.trevisani@wsj.com; @ptrevisani)
(END) Dow Jones Newswires
April 21, 2025 11:21 ET (15:21 GMT)
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