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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.