Fixed Income
Munis carry outperformance into the summer
- Strong demand continued to absorb record issuance, supporting municipal market performance.
- Summer reinvestment flows should provide a supportive technical backdrop, although elevated issuance may temper the seasonal tailwind.
- Municipal credit fundamentals remain broadly healthy, although rich relative valuations support a more measured approach to adding risk.
Source: BlackRock, Siebert, as of 6/30/26.
*BlackRock forecast.
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Patrick Haskell
Head of Municipal Bonds
Patrick Haskell, Managing Director, Head of the Municipal Bond Group within the Portfolio Management Group (PMG) as well as Global Head of Financial Institutions Group Investments Business.
Sean Carney
CIO of Municipal Bond Funds
Sean Carney, Managing Director and Head of the Municipal Strategy team within BlackRock's Municipal Fixed Income business in BlackRock's Portfolio Management Group.
James Schwartz, CFA
Head of Municipal Credit Research
Jim Schwartz, CFA, Managing Director, is Head of Municipal Credit Research with Municipal Fixed Income business in BlackRock's Portfolio Management
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Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of dividends and capital gains. Current performance may be lower or higher than that shown. Refer to blackrock.com for most recent month-end performance.
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