If the Fed cuts rates, yields will decline as bond prices rise. Expect a 10% return in munies.
Stock price when the opinion was issued
As of Oct 23, 2026. Market Open.
Bonds are going to be a challenged asset class. Don't run out and sell. Challenges worldwide with government debt and deficits in Canada/US. Bonds will have a tough time delivering more than the cost of inflation.
Pays great tax-equivalent yields. There's much more stability in municipalities than in other potential slowdowns.
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If the Fed cuts rates, yields will decline as bond prices rise. Expect a 10% return in munies.