September 2025 Municipal Market Performance Recap
September delivered the strongest single-month return since December 2023, as longer-duration bonds benefited from a notable drop in yields and curve flattening.
Other Highlights:
- Total Return: +2.20% (S&P Global Municipal Bond Investment Grade Index)
- Curve Movement: 26 bps drop at the 10-year point
- IDR/PCR sector spreads tightened, Housing widened
- Top State Performers: Texas, California, and New Jersey
All table data and figures in this report were produced using Investortools, Inc.’s Custom Index Manager™ product.
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