let's welcome the queen of wall street, alexandra lebenthal, the ceo of lebenthal and company.rue. what happens in the muni bond market? >> well, obviously munis are obviously going to track treasuries there has been a sell-off over the last several weeks. people are getting nervous. is this the end of the bubble? is it bursting? i think people are very cautious right now. and i think that the main thing for individual investors to be focused on is how much money they have in mutual funds, because i think that once interest rates go up, that is where you're going to see the biggest pain. >> right. and we have seen actually an outflow from muni bond funds in the past couple of weeks. >> yes. >> if you take a look, there is some interesting data that thompson/reuters have put together, saying supply was down in the month of may bay whopping 30%. but the bips on the yield for the ten-year benchmark muni went up 40 basis points. it's sort of an interesting supply was down and prices are down too. >> well, one of the reasons that supply was down is because so many of the deals that

let's bring in the authority, alexandra lebenthal. we talk about these amazing outflows we've seen in the span of a week. and in many cases longer than that. as long as rates continue to rise and today we're talking a 2.21% ten-year, are these doomed? >> it's actually been three weeks we have seen historic outflows from municipal bond funds and as long as rates continue to rise, you will see that continue to happen. we have seen a lot of investors pull money out of bond funds and go into equities. we've seen municipals sell up more than treasuries because they were actually overpriced before. one of the things people need to consider right now is if they believe that the market is going to continue to sell off, you know, your first loss is your best loss, and take your money out of funds and put it into short-term bonds or into a money market at this point. >> what do you think happens this week with the fed? how does that impact the whole story? because that really is one of the most important things to this story. >> well, that's ob

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