If you’re buying municipal bonds after doing your taxes today, it may be too late.
The $3.8 trillion state and local debt market has hit record-high valuations thanks in part to the new $10,000 cap on state and local tax deductions, which has caused investors to seek out tax-free municipal bonds as a way to reduce their tax bills.
But any investor who buys now may have missed out on profiting from the so-called SALT trade. And the tax break offered by municipals has its limits. Depending on their tax rates, investors may be better off buying taxable bonds like...
For more stories, analysis and expertiseOR Request Trial