It May Be Time to Scale Back on High-Yield Muni ETFs
May 21, 2014 at 08:15 AM EDT
High-yield municipal bonds and related exchange traded funds have been rallying alongside the strongest run-up in speculative debt since 2009, and now, Morgan Stanley (NYSE: MS) is sounding a warning. Michael Zezas, chief muni strategist at Morgan Stanley, argued that the outlook for...