Muni Returns Will Remain Strong in 2020, BlackRock's Carney Says

The transcript discusses the continuation of market trends and issuance in 2019, highlighting record inflows and the balance of supply and demand. It addresses questions about the muni market, its perceived broken gauge, and its classification as a late cycle asset class. The analysis focuses on the influence of retail on mutual fund inflows and the benefits of municipal bonds. The discussion concludes with the technical aspects driving the market, emphasizing demand for high-quality fixed income assets.

In what ways are municipal bonds considered a late cycle asset class?

Discuss the implications of the traditional muni treasury ratio being broken.