The municipal bond market's taking some real heat lately. We're seeing the biggest monthly losses in ages as fresh supply floods in, and the geopolitical situation isn't helping Treasury sentiment either. When you mix higher issuance with ongoing risk concerns abroad, you get this perfect storm in the fixed-income space. Worth watching because macro headwinds like this tend to ripple across asset classes—including crypto. Portfolio managers juggling bonds and digital assets need to keep an eye on how these traditional market pressures evolve.