Munis a Source of Stability in Trying Times, Strategists Say

Fine, Jacob
March 2003
Bond Buyer;3/28/2003, Vol. 343 Issue 31803, p7
Trade Publication
Consternation over the impact the war in Iraq will have on the economy has led to angst in investors, causing fluctuation in the bond markets. But municipal bonds may have much to offer during such trying times, according to market analysts. The last time investor angst may have been as high was during a spate of economic crises that began to emerge internationally—in Japan, Russia, and Latin America— and domestically during the second half of 1998, according to Peter DeGroot, municipal bond strategist at Lehman Brothers Inc. The Lehman Brothers municipal bond index produced an average yearly 10.01 percent taxable-equivalent total return, based on the top federal income tax rate for individuals and a national average of top state tax rates.


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