• Market volatility, and observers’ focus on the Fed’s dependence upon data is now offering what could be the best opportunity for a new, or additional entry into the municipal bond market for 2024.
• Fixed income and tax-exempt yields surprisingly rose, and they remain elevated (and tax-exempts are still generationally attractive) but likely may not stay elevated for very long.
• Flows into municipal mutual funds have been positive for a record (in 2024) 15 weeks. But they are likely to soften for the rest of this year.

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