Thornburg Investment Management's Nick Venditti in Bloomberg

Muni Bonds Now Yield Next to Nothing, But Americans Keep Buying

  • Cash keeps flowing in as rally pushes prices to heady levels
  • Yields in secondary market driven by past gains, havens

In theory, the swiftly disappearing yields on municipal bonds should be deterring the little buyers like Greg Fazakerley who dominate the $3.8 trillion market.
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