Chasing Yield: Is the Flow of Money into Munis and High Yield Bonds Rational?
by Geoff Considine There has been a steady flow of money into junk bonds and municipal bonds over the last several months. In fact, we have had a string of eighteen weeks with increases in mutual funds assets that invest in high-yield bonds and munis. There is also evidence of money flowing into ETFs that focus on preferred shares. The ETF Industry Association [...]