Why a Quality Bias Still Makes Sense

As long-time investors, we realize that people invest in municipal bonds for safety, stability and tax-free income. The stability was rocked recently by the economic concerns from the COVID-19-induced shutdown, and the safety of municipal debt has come into question. The media has focused their attention on the potential increase in municipal defaults/bankruptcies. What is needed now is some balance and perspective.  In our latest whitepaper Why A Quality Bias Still Matters, our investment team provides insights into why it’s important to maintain a high-quality bias in the municipal market until the outlook is more certain.