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  1. Supply scarcity supporting muni outperformance
    SourceMedia Bond Buyer | 04:40 PM EDT

    Several large new issues priced. Municipal yields were little changed, U.S. Treasuries were weaker on the short end and stocks ended in the red ahead of the much-anticipated July inflation figure.

  2. Munis see selling pressure, climbing yields, to close out first week of May
    SourceMedia Bond Buyer | 05/06/22 04:03 PM EDT

    Munis again outperformed U.S. Treasuries. Participants note that municipal to Treasury ratios and nominal yield levels are ?extremely attractive,? which is generating some renewed interest among the retail crowd.

  3. Munis hit on long end, play catch-up to Treasuries
    SourceMedia Bond Buyer | 04/18/22 04:27 PM EDT

    Investors pulled more from municipal bond mutual funds last week, with Refinitiv Lipper reporting $4.106 billion of outflows, bring the total to $22.3 billion of outflows year-to-date.

  4. Swings in UST push ratios closer to 100%
    SourceMedia Bond Buyer | 03/04/22 04:23 PM EST

    Market volatility has risen significantly, particularly in the last several weeks, with daily Treasury yield swings of 10 basis points or more becoming the norm with municipals struggling to stabilize.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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