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By Miriam Sjoblom, CFA | 05-28-2009 12:14 PM

Munis' Wild Ride

Fidelity's Christine Thompson says volatility has created great opportunities in muni bonds, but investors must do the homework to find the winners.

Miriam Sjoblom: Hi, I'm Miriam Sjoblom, a mutual fund analyst at Morningstar. I'm here at the Morningstar Investment Conference with Christine Thompson, who is the director of portfolio managers for municipal bonds at Fidelity. Thanks for joining us, Christine.

Christine Thompson: It's a pleasure. Thanks for having me.

Sjoblom: Well, it's been such a wild and wooly ride for municipal bonds over the past year. We had tremendous losses suffered by munis in late 2008. Then fast-forward to this year and all of a sudden there's a huge, tremendous bounce-back for the municipal bond market. I would really appreciate hearing your thoughts on what is impacting all of this volatility, or what's influencing all of this volatility in the market?

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