Munis Mount a Comeback
After struggling dearly in 2013's challenging environment, muni funds have turned in solid performance as interest rates, defaults, and new issuance remain low, and credit quality has improved.
Beth Foos: Despite general expectations for another rough road for municipal bonds, overall muni-bond funds had a very solid fourth quarter and year in 2014, both in terms of fund flows and returns.
Many muni funds struggled dearly in 2013's challenging fixed-income markets, which brought worries about rising interest rates, tapering of the Federal Reserve's QE program, and the credit quality of local and state governments after all the negative headlines around Detroit's bankruptcy and budget strain in Puerto Rico.
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