Gary Gildersleeve Comments on Yields in The Bond Buyer

August 20, 2010

Evercore Wealth Management partner and portfolio manager Gary Gildersleeve told The Bond Buyer that low rates may be sustained for some time.

Muni bonds have set a new record for lowest yield 10 times this month, based on Municipal Market Data's benchmark triple-A 10-year municipal scale.

It is hard to imagine anyone is happy about nominal yields at these levels, but with BABs siphoning supply from the tax-exempt market and mutual funds continuing to garner new cash and putting it to work, it is difficult to foresee when the scenario will reverse, Gildersleeve said.