Here's a two-year nautical chart of daily closes for the Vanguard Intermediate-term municipal bond fund (VWITX). Note how we've recovered from the large losses belatedly inwards 2008 together with straight off are dorsum upward to the prior cost highs. In a depression involvement charge per unit of measurement environment, those tax-free yields convey looked attractive to retail investors and, amidst hopes of economical stabilization, investors convey been willing to motion away from Treasuries together with into munis.
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