The Treasury curve bear-steepened and muni yields followed higher.
Moody’s: Covid-19 will result in state and local government austerity and higher leverage.
Moody’s: July rating changes balanced between positive and negative despite pandemic.
Lipper: Muni funds have 16th consecutive weekly net inflow.
S&P Puerto Rico Total Return Index +4.47% year-to-date.
Originally published on Seeking Alpha