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'Panic Market' in Muni Bonds

Franklin Templeton's Rafael Costas believes that exaggerated fears about muni defaults, along with a few technical factors, led to the recent sell-off in the sector.

Miriam Sjoblom: Hi, I am Miriam Sjoblom, associate director of mutual fund analysis at Morningstar. I am here today with Rafael Costas, who is the co-director of municipal bond department at Franklin Templeton. Thanks for joining us today.

Rafael Costas: My pleasure, and thanks for inviting us.