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Markets Swing and Fed Expectations Shift While Municipals Hold Steady

11/24/2025
  • Fed expectations have been swinging wildly and are likely to remain volatile ahead of the December 9-10th meeting, creating uncertainty across markets while municipal bonds trade steadily and likely remain range-bound.
  • Heavier than expected municipal new-issue supply and cooling demand have ended the recent municipal “Moment,” but still-attractive yields and strong credit fundamentals could present new opportunities for long-term investors.

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