BNY Mellon AMT-Free Municipal Bond Fund Q1 2026 Commentary
2026-05-20·via All Articles on Seeking Alpha
Summary
For the quarter ended March 31, 2026, BNY Mellon AMT-Free Municipal Bond Fund’s Class I shares returned -0.03%, excluding sales charges.
In comparison, the Fund’s unmanaged benchmark, the Bloomberg U.S. Municipal Bond Index, returned -0.18% for the same period.
Over the quarter, the municipal yield curve steepened, while the Treasury curve bear-flattened.
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Market Review
The bond markets including U.S. Treasuries and municipals turned markedly bearish during March, as the US-Israel/Iran conflict drove macro rate volatility and uncertainty. Negative price pressures pushed yields higher in March as concerns over labor market
