Four Weeks In March
The last four weeks in March 2020 have been far and away the most eventful that the financial markets (generally) and the municipal market (specifically) have experienced in recent memory, and perhaps ever. As a result of a pandemic in the U.S., much of the country has taken massive steps to curb the spread of the virus. Many have shelter-in-place orders which have essentially shut down state, regional, and local economies. Recent steps have absolutely had an impact on investors, and this is what we have seen in the municipal bond market over the last four weeks.