TY - JOUR T1 - Municipals as an Asset Class JF - The Journal of Investing SP - 84 LP - 91 DO - 10.3905/joi.2005.517178 VL - 14 IS - 2 AU - Pavan Wadhwa Y1 - 2005/05/31 UR - https://pm-research.com/content/14/2/84.abstract N2 - This article discusses various aspects of the municipal market, including size, investor client base, and issuance trends. It examines the general market behavior of municipals relative to taxables and how to best hedge cash bond as well as recent relative value opportunities in the market, their risk and reward profile, and how a portfolio manager might have taken advantage of them. ER -