It used to be that a good stretch for Treasuries probably also meant a good stretch for municipal bonds. No longer.

A scorching-hot two months for Treasuries did munis little good in October and November. As investors seeking shelter have poured money into federal government debt, munis have become unprecedentedly cheap relative to Treasuries.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.