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(Bloomberg) -- Wealthy New Yorkers can earn more investing in the city’s municipal bonds right now than in corporate debt, Bank of America Corp. told investors Friday.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Europe’s Richest Royal Family Builds $300 Billion Finance EmpireTop Chinese Scientist Claims India Moon Landing Nowhere Near South PoleUAW Aims For At Least 30% Wage Bump to Woo New MembersBiden Impeachment Hearing Heavy on Politics, Light on Subs

Municipals have continued outperforming, "building on the trend that started in late May," Barclays strategists Mikhail Foux, Clare Pickering and Mayur Patel said.

"Investors' jitters in the lead up to next week's Fed meeting resulted in some large macro market moves and a rise in volatility," noted BofA Securities strategists in a weekly report.

For long-term muni bonds, BofA strategists noted that macro market and supply/demand conditions "are dominating the picture, pushing the high-grade muni market to a relatively rich valuation versus Treasuries."

Investors will be greeted Monday with a new-issue calendar estimated at $4.303 billion.