Out of 21 closed end funds I have, including 7 muni bond funds, 20 fell. Only one going up was PFO.. Even 2 REITS went down.. As soon as CD rates get back up to 7 or 8 %, I will probably terminate my relationship with the stock market. Too many distractions, from Europe, crazy democrats and other shady politicians.
You/re blaming the wrong people. If you want to know who tanked the muni bond fund mkt, look no further than uncle Ben. He opened his pie hole and stuck his size 7 shoe in it with his comments about the "taper". He spooked the market so badly that it almost caused a crash. Only after he saw what he'd done and I'm sure he heard from a lot of people that he screwed up big time, did he try to "walk back" some of his statements. BTW, I have been out of muni's for years (since 08 actually) but with these prices I'm starting to take up positions again. The tax aspect of muni's shouldn't be over looked.