June 12, 2025 — This presentation provides an overview of our municipal market outlook and key themes, and it illustrates how Sage is positioned in the current environment.
Key Takeaways
Tax-exempt yields remain near historic highs, and at a 30% tax rate or higher, municipal bonds are outyielding most other fixed income options.
The 10s30s curve offers a generous +120 bps to purchase long bonds, so if extending duration is an option, the long end offers attractive term premium.
A significant increase in new issuance should provide advantageous issuer level opportunities.
DATE: June 2, 2025
TYPE: pdf
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Fixed Income Perspectives — June 2025
June 9, 2025 -- This presentation provides an overview of our market outlook and key themes, and it illustrates how Sage is positioned in the current environment.
