Municipal Bond
Municipal Bond Snapshot November 2025
Following the strong fall rally, municipals held steady in November, with year-to-date performance in the mid-single digits.
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Taxable Bond
Taxable Bond Snapshot November 2025
The US Aggregate Bond Index returned 0.62% in November, spot-on with October's gain. Yields declined across the curve, except for the unchanged long end. Spreads for the overall index rose marginally, and the year-to-date gain advanced to 7.46%.
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Municipal Bond
Municipal Bond Snapshot October 2025
Municipals posted gains for the month — the first positive October in six years and the strongest in over two decades.
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Taxable Bond
Taxable Bond Snapshot October 2025
Despite the government shutdown, investors continued to bid up assets and both stock and bond markets were unphased. The positive economic backdrop remained in place while the Fed cut rates for the second straight meeting.
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Municipal Bond
Municipal Bond Market Commentary – 3Q 2025
Municipal bonds surged in the third quarter, driven by long-end gains, strong demand, and resilient credit fundamentals. The market enters Q4 on solid footing.
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Taxable Bond
Taxable Bond Market Commentary – 3Q 2025
3Q2025 was another strong quarter for fixed income markets. Our Taxable Bond Team shares what they’re seeing in the market.
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Municipal Bond
New York City: Strong Fiscal Controls Outweigh Political Promises
NYC’s strong fiscal safeguards and oversight ensure stable credit ratings, despite political proposals for higher taxes and new debt.
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Taxable Bond
Taxable Bond Snapshot September 2025
The positive market environment continued in September, underpinned by a constructive economic backdrop and the Fed cutting rates for the first time since the end of 2024.
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Municipal Bond
Municipal Bond Snapshot September 2025
In September, municipal bonds posted their best monthly return since December of 2023, recapturing much of the year-to-date underperformance versus the broader market.
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