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PIMCO California Municipal Inco Message Board

  • kentw007 kentw007 May 9, 2013 10:23 AM Flag

    Market Fundamentals, 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
    May 2nd, 2013Goto commentsLeave a comment


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    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.

    “and we continue to see municipal bonds as offering the sort of stability and tax-exempt income generation capability that has been such a draw to investors continuing to search for yield.”

    “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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    • Ken, since you posted in May, the California muni's have been down across the board. t looks like most of the California muni etf's have a dividend return of around 7.5% to 8%. Their net asset value looks good. Time to get in for PZC, PML, PCK, EVM, CEV, etc.

 
PZC
10.54+0.03(+0.29%)Aug 22 4:00 PMEDT

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