Municipal Fixed Income Perspectives — April 2024
April 12, 2024 — This presentation provides an overview of our market outlook and key themes, and it illustrates how Sage is positioned in the current environment.
Key Themes
- Seasonal Weakness Presents an Excellent Entry Point — Weaker technical factors during April and May should provide investors with a better entry point, especially since rates have recently risen.
- The Credit Environment is Fairly Solid — We continue to focus on select AAA and A credits and have a modest longer duration tilt to balance price upside and limited access to supply/bonds.
- Cracks Appear in Credit — Despite the continuation of a strong economy and solid fiscal picture, several larger issues are beginning to experience budgetary challenges.
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