“The biggest exchange-traded fund tracking the $3.7 trillion U.S. municipal market is selling at its deepest discount ever to the value of its assets. The $3.5 billion iShares S&P National AMT-Free Municipal Bond Fund, known as MUB, touched $100.42 (the net asset value is 105.3). This is the lowest since April 2011 according to, data compiled by Bloomberg. The move reflects yields on benchmark 10-year local debt climbing as high as 2.68 percent , the most since October 2011. The plunge follows investors pulling $1.86 billion out of U.S. muni mutual funds from Jan. 1 through June 19, Lipper US fund Flows data show.”
http://www.economicpolicyjournal.com/2013/06/get-out-of-muni-bond-etfs-now.html
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