Interested in the alternate universe of closed-end funds? Friday's WSJ FundTrack
is for you. Kevin Kingsbury
and Mike Barris
report that because of the rash of recent downgrades in the bond market, Eaton Vance is lowering the bar in what its 12 insured closed-end municipal-bond funds can hold. Eaton's plan is to let the fund hold obligations rated as low as the high-Bs, as long as 50 percent of the fund's assets are still invested in A-rated securities.
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