Record High Value a Cause for Concern for Muni Bond Bulls

The video discusses the performance and valuation of municipal bonds (munis) since 2014, highlighting their strong performance since November 2018. It examines the muni curve compared to the US Treasury curve, noting opportunities and potential pullbacks. The video also explores market dynamics, including the January effect and seasonal trends, with a focus on retail demand. Finally, it compares munis to Treasurys and corporate bonds, emphasizing the favorable tax-adjusted yields of munis and their broad appeal to investors.

What is the significance of the retail demand in the municipal bond market as mentioned in the text?

How do municipal bonds compare to corporate bonds in terms of yield when adjusted for tax?