Muni Fortnightly - November 5, 2018

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Includes: AFB, BAF, BBF, BBK, BFK, BIL, BKN, BLE, BSD, BYM, CLTL, CXH, DFVL, DFVS, DLBL-OLD, DLBS, DMB, DMF, DSM, DTF, DTUL, DTUS, DTYL, DTYS, EDV, EGF, EIM, EIV, EOT, EVN, EXD, FIBR, FLAT, FLMB, FMB, FMN, FTT, GBIL, GOVT, GSY, HYDD, IEF, IEI, IIM, IQI, ITE, KSM, KTF, LEO, MEN, MFL, MFM, MFT, MHD, MMU, MNP, MQT, MQY, MUA, MUB, MUE, MUH, MUS, MVF, MVT, MYD, MYF, MYI, MZF, NAD, NEA, NEV, NIM, NMI, NUV, NUW, NVG, NXP, NXQ, NXR, NZF, OIA, OPER, PBND, PLW, PMF, PML, PMM, PMO, PMX, PRB, PST, PVI, PZA, RISE, RVNU, SCHO, SCHR, SHV, SHY, SPTL, SPTS, STPP, TAPR, TBF, TBT, TBX, TFI, TFLO, TLH, TLT, TMF, TMV, TTT, TUZ, TYBS, TYD, TYNS, TYO, UBT, USFR, UST, USTB, VFL, VGIT, VGLT, VGM, VGSH, VKI, VKQ, VMO, VRIG, VTEB, VUSTX, XMPT, ZROZ
by: Robert W. Baird & Co.

Summary

Treasury yields moved modestly higher during a week of still heightened equity volatility.

Muni yields rise but lagging Friday’s steep increase in Treasury yields.

Muni fund flows were significantly; mounting consecutive weeks of losses.