This just in from my colleague Cooper Howard: It’s shaping up to be a wild day in #muniland. Munis are finally waking up to the prospect of tighter monetary policy. Since the start of the year, yields are up relative to Treasuries. 
The biggest move has been in short-term munis where spreads were very low.
The move higher in yields has resulted in negative returns for muni mutual funds and ETFs. Recently, the streak of consecutive weeks of inflows reversed.
Selling pressure is heightened illustrated by the amount of bid wanted being at the highest level in over a year. This will likely contribute to #volatility in the #muni market today.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
