Munis Gain Momentum Amid Trade Deal Optimism

Nuveen’s Global Investment Committee, led by CIO Saira Malik, analyzes recent U.S. market resilience and the implications of shifting trade policy and municipal bond opportunities.

• U.S. equities rebounded sharply, with the S&P 500 up nearly 20% since April 8, driven by renewed U.S.-China tariff negotiations.

• Inflation eased in April, but tariffs remain high, posing risks to 2025 GDP growth and inflation.

• Municipal bonds offer compelling yields and remain structurally sound, with “rainy-day” reserves at 15% of state/local budgets.

Read the full report to explore portfolio implications and positioning strategies.