Citigroup Sees Election as Bullish for Munis No Matter Who Wins
- If market sells off, ‘back up the truck and load up’
- Echoes call to buy during March’s record-setting rout
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If the uncertainty surrounding America’s presidential election triggers a rout in the municipal-bond market, analysts at Citigroup Inc. said it will be a good time to buy.
The advice echoes the bullish call the bank’s analysts made in March, when they suggested investors swoop in as a panic about the coronavirus sent the $3.9 trillion market into its biggest crash on record. That proved prescient: prices rallied back, delivering big gains, after Congress enacted the $2.2 trillion economic stimulus measure and the Federal Reserve moved to ensure the market wouldn’t be rattled by another liquidity crisis.