Munis See Worst Monthly Returns Since Lehman Collapse
AI Summary
US state and local government bonds recorded their worst monthly returns in nearly two decades amid a broad debt selloff. Inflation concerns, fears of higher interest rates, and the ongoing US-Iran conflict contributed to the decline.
US state and local government debt posted its worst month in nearly two decades after inflation concerns, fueled by the ongoing US-Iran conflict, and fears of interest-rate hikes triggered a widespread bond selloff.