Municipal bond market update (PDF) - Invesco

1ource: Barclays Municipal Bond Index and Barclays High Yield Municipal Bond Index, as of March 31, 2016. The tax-adjusted S calculation uses a tax rate of 43.4%, which is the top federal tax bracket of 39.6% + the net investment income tax of 3.8%. 2oad Treasuries represented by the Barclays U.S. Government Index Br ................
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