R.J. Gallo on Muni Inflows as the U.S. 10-Year Yield Hits 3%

The video discusses the impact of the 3% treasury yield on municipal bonds, with insights from RJ Gallo, a senior portfolio manager. It covers the performance of muni yields, highlighting their negative returns but relative outperformance compared to taxable fixed income. The video also explores high yield muni bonds, particularly tobacco bonds, noting their resilience and market trends. The New Jersey Tobacco deal is mentioned as a significant transaction in the high yield universe.

What are the implications of the shrinking universe of high yield tobacco bonds?

What is the significance of the New Jersey Tobacco deal mentioned in the discussion?