Municipal Fixed Income Investment Strategy, October 2025
October 14, 2025 — Sage provides an outlook for the municipal market, including our sector views and positioning.
Key Takeaways
- Economic and Policy Landscape: Municipal markets rebounded in Q3 amid falling yields, resilient economic indicators, and expectations of gradual Fed rate cuts.
- Market Performance: Municipal bonds delivered strong returns across durations and credit tiers, with longer maturities and lower-coupon structures outperforming.
- Municipal Outlook: The market favors longer-duration, lower-coupon bonds, prompting a strategic shift amid rich valuations, sector risks, and anticipated Fed easing.
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