"People see [municipal bonds] as a defensive position for two reasons," said Shannon Saccocia, chief investment officer at NB Private Wealth.
"Historically, municipal bonds have had low default rates," wrote Jared Woodard, investment and exchange-traded fund strategist at Bank of America, in a June 12 report.
For instance, there's the Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and the Nuveen New York Quality Municipal Income Fund (NAN) .
In select situations, some advisors are recommending closed-end municipal bond funds.
Closed-end muni bond funds trading at a deep discount include the BNY Mellon Municipal Income (DMF) and the MFS High Income Municipal (CXE) .
Persons:
Shannon Saccocia, Jerome Powell, Jared Woodard, Nisha Patel, Patel, Paul Winter
Organizations:
Bank of America, Bond, Muni Bond ETF, Vanguard, Income Fund, Five, BNY, Income
Locations:
York, BNY Mellon