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The Boston Globe

Business

Mutual Funds

Budget uncertainty has muni investors spooked

Municipal bonds continue to provide a reliable refuge from stock market volatility and a steady source of tax-free income.

An index of muni bond mutual funds has recently been yielding around 2.18 percent. While that’s nothing to brag about, it’s a substantially higher yield than the roughly 2 percent that 10-year Treasury bonds offer, without factoring in the tax-exempt advantage that munis offer.

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