Manager insight
Vanguard sees rare opportunity in high-grade munis
May 19, 2025
“Given the current yields, valuations, and technical tailwinds, longer-dated high-grade munis represent a sweet spot in the market,” said Paul Malloy, Vanguard head of municipals, in a commentary on the personal finance website Kiplinger. “Conditions are likely to shift in the coming months, so investors may want to consider seizing this investment opportunity before it’s gone.”
Read Malloy's full commentary at Kiplinger.
Notes:
All investing is subject to risk, including the possible loss of the money you invest.
Although the income from a municipal bond 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.
