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.

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