"Investors have registered $195mn of outflows from HY muni ETFs over the past year while piling $3,130mn into long duration US Treasury bond funds. … In our view, Treasury bond ETFs have too much inflation risk and will continue to underperform Prudent Yield credit assets. Municipal bonds are debt issued by state and local governments whose interest payments can be tax-free for investors. But municipal bonds look relatively safe within that group, according to Bank of America. Bank of America's top-rated municipal bond ETFs include the SPDR Nuveen Bloomberg High Yield Municipal Bond ETF (HYMB) and the VanEck High Yield Muni ETF (HYD) .

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Persons: Jared Woodard, Woodard, munis, HYMB Organizations: Bank of America, HY muni, …, Federal Reserve, Bank of America's, Bloomberg, ETF, Muni Locations: HY