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BlackRock California Municipal Message Board

  • kentw007 kentw007 May 9, 2013 9:40 AM Flag

    Tax Rate Increases Combine to Strengthen Case for Closed-End Municipal Bond Funds

    Market Fundamentals, Tax Rate Increases Combine to Strengthen Case for Closed-End Municipal Bond Funds
    Market Vectors CEF Municipal Income ETF (XMPT) announced its most recent distribution on April 30
    Press Release: Market Vectors ETFs – Thu, May 2, 2013 10:23 AM EDT
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    XMPT 28.21 -0.06

    NEW YORK--(BUSINESS WIRE)--
    A number of factors that came to the forefront in March continue to support a strong market for municipal bonds and closed-end funds (CEFs) investing in municipal bonds, according to Jim Colby, senior municipal strategist with Market Vectors ETFs.
    “The underlying market for municipal bonds continues to look favorable,” said Colby. “In my opinion, Federal spending cuts are not likely to affect municipal credits and the U.S. economy continues to grow at a moderate rate, which is also good for this asset class. In addition, this year's tax rate increase for the wealthiest Americans and the potential for further rate hikes or losses of deductions helps support investor interest level in the municipal marketplace as well.”

    Sentiment: Buy

 
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