Thornburg Investment Management’s Nick Venditti in WSJ

Some Muni Bonds Are Left Behind in Rush to Safer Investments

Investors shy away from debt likely to be affected by coronavirus epidemic, such as travel and hospitality bonds

Municipal-bond prices have surged as the potential impact of the novel coronavirus has driven investors into safer assets. But not all bonds have enjoyed the rally, with investors shying away from riskier debt and from securities likely to be affected by the virus, namely travel and hospitality bonds.

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