Don’t Pick Up Nickels in Front of a Steamroller: Fixed Income Warning and Munis Opportunity

Bullish Gator

Cooper Howard warns bond volatility amid Fed hikes; avoid small risks and consider municipal bonds for potential outperformance versus Treasuries.

Editorial companion

What stands out

Cooper Howard uses a memorable line, "don’t pick up nickels in front of a steamroller", to warn that bond-market volatility is no place for small, speculative bets while the Federal Reserve keeps tightening. He notes a light economic calendar this week but says inflation data remains under close watch, which keeps yields and prices twitchy. He also points to municipal bonds as a specific trade idea, arguing they may outperform Treasuries amid current rate dynamics and elevated volatility.