PT  - JOURNAL ARTICLE
AU  - Pavan Wadhwa
TI  - Municipals as an Asset Class
AID  - 10.3905/joi.2005.517178
DP  - 2005 May 31
TA  - The Journal of Investing
PG  - 84--91
VI  - 14
IP  - 2
4099  - https://pm-research.com/content/14/2/84.short
4100  - https://pm-research.com/content/14/2/84.full
AB  - This article discusses various aspects of the municipal market, including size, investor client base, and issuance trends. It examines the general market behavior of municipals relative to taxables and how to best hedge cash bond as well as recent relative value opportunities in the market, their risk and reward profile, and how a portfolio manager might have taken advantage of them.