Municipal Bonds: Relative Value Versus Absolute Yield

The video discusses the municipal bond market's reaction to potential Federal Reserve decisions, highlighting that such days are typically non-events. It explores the relative value of munis compared to treasuries, emphasizing the 10 to 12-year sector for value. The discussion also covers absolute yields, noting low returns and a shift from exempt to taxable markets due to lower absolute rates, with a significant increase in taxable issuance.

What does Erica Satsky suggest about total return expectations in the current market environment?

How has the shift from exempt to taxable issuance affected the muni market according to the discussion?