Economics and markets
February 17, 2023
Bonds are back. With a punishing year for fixed income in the rearview mirror, Vanguard Senior Portfolio Manager Jim D’Arcy, CFA, gives his take on the state of the muni market and where Vanguard sees opportunities in 2023.
Listen to Jim’s wide-ranging conversation with Lauren Foster, senior writer at Barron’s, which covered:
All investing is subject to risk, including possible loss of the money you invest.
Investments in bonds are subject to interest rate, credit, and inflation risk.
Although the income from a municipal bond fund is exempt from federal tax, you may owe taxes on any capital gains realized through the fund's trading or through your own redemption of shares. For some investors, a portion of the fund's income may be subject to state and local taxes, as well as to the federal Alternative Minimum Tax.