Aashna Shah和Shruti Date Singh报道，持续的美伊冲突加剧了通胀担忧，加息恐慌随之触发债券广泛抛售，使美国州和地方政府债务录得近二十年来最糟的单月表现。
By Aashna Shah and Shruti Date Singh US state and local government debt posted its worst month in nearly two decades after inflation concerns, fueled by the ongoing US-Iran conflict, and fears of interest-rate hikes triggered a widespread bond selloff.
彭博市政债券指数9月下跌约4.4%，为2008年9月以来最差的单月表现；当时雷曼兄弟控股公司倒闭，酿成美国史上规模最大的破产。根据彭博汇总的数据，市政债券收益率上月飙升至至少2011年以来的最高水平。
The Bloomberg Municipal Bond Index fell roughly 4.4% in September, the weakest monthly performance since September 2008, when Lehman Brothers Holding Inc. collapsed in the largest-ever US bankruptcy. Municipal yields soared last month to the highest levels since at least 2011, according to data compiled by Bloomberg.
Belle Haven Investments信用研究高级副总裁Ryan Ciavarelli表示：“9月经历了一段艰难的时期，收益率迅速攀升；本周开局时，随着有资金流入ETF的报道出现，市场似乎迎来一轮 relief rally。这使我们的规模出现波动，也给发行人在市场条件改善后发行债券提供了机会。”
“After a difficult stretch in September where we saw a rapid rise in yields, the market appears to be having a relief rally to start the week with reported cash coming into ETFs,” said Ryan Ciavarelli, senior vice president for credit research at Belle Haven Investments. “That has led to bumps in our scale and a chance for issuers to place deals into the market under improved conditions.”
抛售潮已开始缓和：周四，市政债券连续第二日上涨，终结了近两周的跌势。根据彭博汇总的数据，截至纽约时间中午12点，基准10年期市政债券收益率下跌7个基点至约4%。30年期基准收益率下降近3个基点至5.2%。
The rout has started to ease: muni bonds rose for the second straight day on Thursday, snapping the nearly two-week selloff. Benchmark 10-year muni yields fell 7 basis points to about 4% as of 12 p.m. in New York, according to data compiled by Bloomberg. Thirty-year benchmark yields dropped nearly 3 basis points to 5.2%.