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State Street (STT) put a halt Thursday on redeeming shares of its municipal bond ETFs for cash -...

State Street (STT) put a halt Thursday on redeeming shares of its municipal bond ETFs for cash - limiting to in-kind redemptions only - and still hadn't resumed cash swaps on seven ETFs today, with the exit doors jammed. The move comes in the wake of this week's muni-bond selloff, but has little direct effect on end investors who can sell in the open market. (Related ETFs: BABS, INY, VRD, SHM, TFI, CXA; more redemption difficulty)
Comments (2)
  • Interesting Times
    , contributor
    Comments (13104) | Send Message
     
    Does anyone know how to spell PANIC.

     

    Whatever spin one wants to put on this ain't good news!!
    21 Jun 2013, 06:29 PM Reply Like
  • James Davis
    , contributor
    Comments (185) | Send Message
     
    roach motels
    21 Jun 2013, 07:23 PM Reply Like
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