To support the economic recovery, the Federal Reserve will likely
maintain its “lower for longer” approach to interest rates in 2015.
There are few signs of an inflationary buildup that would push the Fed
toward sharp rate hikes.
As 2014 winds down, investors don’t seem to have much faith in the
trends they are seeing in the market. Yesterday’s good news is open to
reinterpretation as bad news today, even though the news itself hasn’t
No doubt, 2014 has been a good year for municipal bond investors.
Through the first 10 months of the year, the Barclays Municipal Bond
Index is up 8.3%. Among major asset groups, that return trails only the
Standard & Poor’s 500 index of large-cap stocks.