Jolt from Japan, Count on the Consumer?, and Shipping & Shoes 12/20/22
The Exchange
00:00
Is There an Alternative?
Right now, I like the longer intermediate part of the curve. There's still some steepness left there, call it 10 to 15 years. You keep your duration in check. So if you do see higher rates in 2023, you're going to be in better shape. The default rate is one tenth of one percent. A good manager can build a highly effective municipal portfolio that delivers good tax free income and preservation of capital.
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