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SMA growth prompted the firm to bring on Lloyd Nemerever as vice president, portfolio manager and head of municipal bonds SMA strategies for Franklin Tem- pleton Fixed Income. In fixed income, purchasing a mutual fund or exchange-traded fund when yields are relatively low enables the client to gain access to a seasoned portfolio that was invested over a longer time horizon. "Ultimately what municipal investors should look at is the sensitivity and quality of their portfolios", Valeri said. [Extracted from the article]

National funds had outflows of $1.019 billion after outflows of $282.062 million the previous week while high-yield muni funds reported outflows of $166.572 million after inflows of $258.761 million the week prior. Municipals were mixed Thursday as the market took a breather ahead of Fed Chair Jerome Powell's Jackson Hole speech, while U.S. Treasuries improved five years and out and equities ended in the black. Spreads, ratios and nominal yields have gotten much more attractive than they were earlier this summer, but still have room to provide even more opportunity, noted Jason Ware, head of municipal trading at Inspere X. The two- and three-year muni-UST ratios are around 66%. [Extracted from the article]

Municipal yields rose on Thursday by as much as six basis points as the correction to higher yields continues, but if inflows are any indication, the technicals (low supply, high demand) surrounding munis won't allow rates to rise much higher in the near-term. Given the muni yield correction and the once-again little-changed U.S. Treasury market, municipal to UST ratios rose six basis points to 64% in 10 years and three basis points to 71% in 30 years, according to Refinitiv MMD. Municipals, he said, are proving more resilient than taxable bonds during this week's sell off. "While the 10-year Treasury yield has increased to a post-pandemic high of 1.30%, the average 10-year, triple-A muni GO yield has yet to break to a new high", Valeri said. [Extracted from the article]

Focuses on HoneyBaby's Teacakes business established by David Evans through liquidating a portion of his former 401 (k) account. Asset allocation of Evans' portfolio; Business goal of Evans.

Municipals are benefitting from an asset reallocation after international and domestic volatility spooked investors in the weeks leading up to 2016. [ABSTRACT FROM AUTHOR]

While younger investors are often risk-takers seeking high returns in the fast-paced equity market, owning municipal bonds can be an important part of a young entrepreneur's investment portfolio, municipal strategists said. [ABSTRACT FROM AUTHOR]