If you discover online or with a broker a municipal bond yield that sticks out like a sore thumb, be prepared to visit the financial infirmary. With more than 50,000 municipal bond issuers this $3.9 trillion market has always been a safe haven for high net worth investors. But we’ve never seen or experienced a lock down that caused such rapid declines in state and local revenues, sales tax revenues, toll bridge revenues, gas taxes, personal income tax, corporate tax or property tax. The holy grail in municipal bonds for me has always been the top ten largest U.S. airports and seaports. These AA+ rated bonds yield 1.00% to the March 1, 2026 call and 2.25% to maturity if they aren’t called early.

Source: Forbes June 19, 2020 18:00 UTC