Municipals Shrug Off Reopening Rollback
The reopening rollback began at the end of June and has gained steam.
Municipal investors have moved $12.7 billion into municipal funds over the last nine weeks. Last week, a little over $1 billion flowed into municipal funds.
It seems municipal investors have shrugged off the reopening rollback and other negative indicators or trends.
This could be because investors are relying on monetary and fiscal policy that has occurred and may yet still materialize.