After hanging in there early, municipal bond prices (MUB -0.7%), (HYD -1.5%) tumble in wake of...

|By:, SA News Editor

After hanging in there early, municipal bond prices (MUB -0.7%), (HYD -1.5%) tumble in wake of the Detroit Chapter 9 filing (this as Treasury yields fell). "If you are a market-maker today, you have to be cautious because you don't know what the market impact is going to be," says Matt Fabian of Municipal Market Advsiors. Michigan bond funds: Eaton Vance Michigan Muni closed-end fund (MIW -0.8%), BlackRock MuniYield Michigan (MIY -1.3%), Nuveen Michigan Quality (NUM -0.7%).