The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:One Muni Bond ETF Rallied After Muni Market Stablizes Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 27, 2013

One Muni Bond ETF Rallied After Muni Market Stablizes

News summary by MFWire's editors

After the municipal bond ETF market panicked and State Street halted cash redemptions, no one would guess that a winner would emerge from the chaos. But BlackRock[profile] iShares National AMT-Free Municipal Bond Fund quickly recovered, trading at $104.97 at 4 p.m. in new York, up 3.6 percent from Monday, Bloomberg's Michelle Kaske reported. It was the biggest two-day rally since October 2008.

The ETF fell to the cheapest it had been in two years. The ETF's gain is reflective of investors looking to take advantage of the opportunity to buy cheap muni bond ETFs.

Investors in the highest tax bracket, the benchmark yield for 10-year municipal bonds gives a greater taxable return at 4.85 percent than Treasuries maturing in 10 years, which fell to 2.42 percent.
The ratio of the yield of munis to those on Treasuries is about 115 percent, the highest since July 2012, Bloomberg data show. The higher the ratio, the cheaper local debt is when compared with equivalent U.S. government securities.
If you want to read more, click here.  

Edited by: Casey Quinlan

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use