BlackRock found solid tax-free yields in municipal bonds. A market that has existed since 1812. Took them two centuries but they cracked the code.
The headline says it pays to be particular. That's fund manager speak for "we cherry-picked the good ones while you bought a Vanguard ETF and called it diversification." Being particular requires research. Research requires time. Time requires not having a day job at Enterprise Rent-A-Car. See the problem.
Municipal bonds are attractive opportunities right now. They were attractive opportunities last year. They'll be attractive opportunities next year when BlackRock writes the same press release with different adjectives. The muni market doesn't move like crypto or meme stocks so nobody under forty knows it exists. No Reddit thread has ever opened with "hear me out guys, general obligation bonds."
Tax-free yields sound incredible until you remember you need taxable income first. Hard to shelter gains when your portfolio is down sixty percent because you bought calls on a company that makes lab-grown meat for cats. But BlackRock isn't talking to you. They're talking to people who have problems like "my income is too high" and "which house do I put this in."
The bond market has been around longer than every technical indicator you pretend to understand. It will outlast your trading account by decades. BlackRock has analysts who do nothing but read municipal credit reports for eleven hours a day. You have a Robinhood app and a YouTube video you watched on two-times speed. They are being particular. You are being liquidated.
Solid tax-free yields in a corner of the bond market. Not the whole market. A corner. The corner they found. The corner you'll read about after it's already priced in. By the time this headline reaches your screen, BlackRock already moved on to the next corner. You're touring the empty warehouse wondering where everybody went.
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