Here’s a look at how the municipal bond market functioned during and after the March volatility—and the experience of the investors who chose to sell at its height.

A look at one week’s worth of new issuance of municipal bonds illustrates key themes at work in today’s market—and the range of potential investment opportunities on offer.

In our view, the U.S. Federal Reserve’s Municipal Liquidity Facility may potentially offer important support for certain lower-quality municipal bond issuers—and thus, the broader market.

With the broad financial market recovery since late March, U.S. high yield is no longer as dislocated, but the rationale for a strategic allocation to the asset class remains intact in our view.

This maturity segment of the municipal bond market offers the potential for more favorable risk-adjusted returns than longer munis and higher yield ratios than short munis.

Our director of municipal bonds identifies areas of the market where performance disparities may create potential opportunities.