Municipal managers are making last minute adjustments to their holdings in anticipation that the Federal Open Market Committee’s meeting next week will mark the beginning of the end to the Federal Reserve’s bond buying program.

Jeffrey Elswick, director of fixed-income at Frost Investment Advisors in San Antonio, Texas, is limiting interest-rate risk in his mutual bond fund and buying high-grade paper in the intermediate range, while Scott McGough, director of fixed-income at Philadelphia-based Glenmede is also keeping the duration of investments shorter than the benchmark he tracks, while using available cash to capture yield opportunities.

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.