Municipal Bonds
The Lord Abbett Intermediate Tax Free Fund achieved a 1.61% return in the fourth quarter of 2025, surpassing its benchmark. This performance was driven by strategic positioning in the yield curve. The broader municipal bond market also saw positive returns amid significant inflows throughout the year.
Riportato dall'IA
The small Texas city of Clyde missed bond payments in 2023 and 2024 amid a severe drought that reduced water sales and damaged infrastructure. Officials raised taxes and utility rates to address the shortfall, highlighting broader risks to the $4 trillion municipal bond market. Experts warn that droughts could expose more debt to climate threats than floods or wildfires by 2040.