The bond market was particularly volatile in 2020, especially among municipal securities. The coronavirus deeply impacted state and local budgets, raising fear of potential defaults in this normally staid sector. But it’s also created promising opportunities for long-term, research-focused investors. Mark Marinella, a fixed income portfolio manager, took us behind the scenes and explained how he and the team have sought to take advantage of this rocky period.

Among the topics he addressed:
 

• Despite broad fears, what’s the underlying outlook for muni bonds?
• How have we positioned portfolios to benefit from this year’s disruption?
• Do bonds still make sense amid rock-bottom interest rates?
   

Mark Marinella is a fixed income portfolio manager at Capital Group Private Client Services specializing in muni bonds. The event was moderated by Regional Director Alan Swerdloff.