“For some of these riskier trades that have done well, there are only marginal benefits” going forward, Zezas said in the article.
Morgan Stanley is the latest financial firm to question the sustainability of the municipal bond rally, joining Citigroup (NYSE: C) and the Vanguard Group.
Market Vectors High Yield Municipal Index ETF
For more information on the munis market, visit our municipal bonds category.
Max Chen contributed to this article.