Lessons from COVID-19: U.S. Municipal Bond Markets

Municipal Bond Index was up 2.99% for the month and 1.19% year to date, versus the S&P U.S. Treasury Bond Index return of -0.17% in May and 7.60% year to date. Municipal bond issuance A key indicator of the health of the municipal bond market is the level of new issuance. As reflected in Exhibit 2, prior ................
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