Matthew Gastall

Head of Municipal Research and Strategy, Executive Director @Morgan Stanley

New York, NY, US

Select Media Appearances 2023 Bond Buyer Podcast–Finding Value in Munis Versus Corporates 2019 Bond Buyer Podcast–In the Face of SALT, Munis Perform Well 2018 Bond Buyer Podcast–Blue Sky Setting for MunisBarron’s Opening Story: Up and Down Wall Street – These Bonds Are the New Stocks (2022) Munis Have Room to Outperform as Inflows Continue Morgan Stanley: Glut of New Bonds Creating Bargains Tapering, Rising Rates Inevitable; Shorten Duration (2013) Municipals Shrug Off Sequester The Bond Buyer Large new-issues price into strong market as yields fall (2023) With few new deals, focus on secondary as bid lists rise September sees second month of supply growth Muni fund outflows hit $2.9B, highest of 2023 Issuance drops 17% in 1H With tax-exempt advanced refundings gone, tenders step up Retail ownership grows in first quarter, banks fall May volume drops 29% as rates rose, Fed policy weighed Amid volatility, ETF, SMA growth persists as retail demands change 2023 should be better for municipal bonds, experts say (2022) Inflows top $1 billion led by HY Munis on a tear, yields plummet 45 bps With cheaper ratios, munis ‘exceedingly appealing’ SMAs provide bespoke options in volatile times Year-end offers value despite uncertainties (2021) How investors are avoiding the price tag of short muni curve Coronavirus could create booming business for insurers (2020) Chicago STSC and NYC price in steady market Muni strategists see a turning point as year ends (2018) Why the time is ripe for tax swaps Robust demand seen with approach of 4Q Munis weaken as activity slows, supply stops (2015)Bloomberg Boom Another Billion (2019) FTQ May Bolster Municipals: MS (2018) Munis Vulnerable to Weakness: MS Reuters Los Angeles Tops Municipal Sales (2015) Primary to Decline Next Week (2014)CNBC Investors Cautious on Muni Market, Eye Washington*Not All Media Featured Above