Bloomberg Briefs Features Baird’s Take on Municipal Bond Performance

July 26, 2017

In the July 14 issue of Bloomberg Briefs, Baird Advisors Senior Portfolio Manager Duane McAllister discussed his outlook for municipal performance for the rest of the year and his view on Illinois’ newly passed budget.  

(excerpt)

“The market is becoming more efficient at pricing risk surrounding pensions,” said McAllister, whose funds hold Illinoisgeneral obligation bonds and credits around the state.

Illinois' enactment of a budget was a good "first step" but the state still needs to enact further reforms

Read the full article.


Past performance is not indicative of future results. Fixed income investments carry interest rate risk, credit risk, inflation risk, legislative risk and liquidity risk.  In a rising interest rate environment, the value of fixed-income securities generally decline and vice versa. High yield securities may be subject to heightened risk and should not be purchased solely because of the stated yield. The quality profile is calculated on a market value-weighted basis using the highest credit quality rating given by S&P, Moody’s or Fitch for each security in the fund. Ratings are measured on a scale that ranges from AAA or Aaa (highest) to D or C (lowest).