It seems there is no shortage of investors willing to forecast the impending doom for the bond market stemming from a reversal of the long decline in interest rates. Last week, the commissioner of the Securities and Exchange Commission (SEC) Daniel Gallagher stated that “financial armageddon” awaits municipal bond investors due to rising interest rates. Commissioner Gallagher tried to retract comments late in the week, saying he was merely trying to make bond investors aware of potential risks, but nonetheless joined a long list of doomsdayers who have used…

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Assessing Interest Rate Risk