Investing Ideas

The 2024 election could affect opportunities for municipal bond investors

How tax policies and federal spending may play a role in the muni market.

By: Michael Schmitt Cormac Cullen Michael Maka Elizah McLaughlin
Updated: 9/27/2024
Key Takeaways
  • The 2024 U.S. elections could impact the municipal bond market—as well as particular regions and subsectors.
  • Much of the campaign rhetoric is noise, but some investors may overreact to the municipal bond implications of possible election outcomes.
  • Our portfolio managers and analysts keep a constant eye on what various proposals might mean for their sector, but we recognize that some proposed policy rhetoric is unlikely to be implemented—or may be implemented in a watered-down way such that it has no meaningful impact.
  • Aside from the potential shift in the political landscape, other factors such as fiscal spending, monetary policy, and supply/demand market dynamics could play a role.
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