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From Stockton To Puerto Rico: What's Driving The Muni Market?
Matt Tucker • Wed, Apr 10 • 3 Comments
Is Motown Bringing Down Your Muni Bond Portfolio?
Eric Parnell • Thu, Mar 14 • 13 Comments
Muni-Bond Outlook: Expecting High Relative Volatility Due To Low Yields, Potential Tax Changes
Morningstar • Wed, Feb 27 • 2 Comments
At What Tax Rate Are Munis Attractive?
Dan Morillo • Mon, Feb 18 • 2 Comments
Against The Grain: A 100% Bond Portfolio With Negative Correlation To A Broad Bond Market ETF
Brad Kenagy • Mon, Feb 11 • 19 Comments
BlackRock Cautious On Muni Bond ETFs
Tom Lydon • Thu, Feb 7 • 5 Comments
The Death of Bond ETFs? Change Your Fixed-Income Lenses
Gary Gordon • Fri, Jan 25 • 8 Comments
Fear And Loathing On Wall Street
Eric Parnell • Fri, Jan 25 • 183 Comments
Muni Bond ETF Outlook For 2013
Tom Lydon • Mon, Dec 31, 2012
Taxes And Dividends
David Fry • Wed, Dec 5, 2012 • 16 Comments
Is The Tax-Exempt Status Of Muni Bond ETFs In Jeopardy?
Tom Lydon • Wed, Dec 5, 2012 • 5 Comments
A High-Yield, Low-Risk Income Portfolio Using Uncorrelated ETFs
Ted Johnson • Wed, Dec 5, 2012 • 19 Comments
Fear Higher Taxes? Then Buy These Tax-Free High Yielders
StreetAuthority • Wed, Dec 5, 2012 • 9 Comments
Will New SEC Chief Walter Derail Muni Bond ETF Rally?
Tom Lydon • Wed, Nov 28, 2012
Best Muni Bond ETFs For Yield
Tom Lydon • Tue, Nov 27, 2012 • 1 Comment
Under The QE3 Hood: 2 Key Elements To Make The Market Run
Eric Parnell • Mon, Nov 26, 2012 • 18 Comments
Stock Outlook: Nothing Ado About Much
Eric Parnell • Sun, Nov 4, 2012 • 13 Comments
As the Fiscal Cliff Looms, Investors Favor Munis
Matt Tucker • Thu, Nov 1, 2012 • 8 Comments
Tax Proposal Puts Muni Bond ETFs At Risk
Tom Lydon • Fri, Oct 26, 2012 • 7 Comments
ETFs With High Tracking Error
Benzinga • Fri, Oct 19, 2012

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Muni Bonds, Corresponding ETFs Off To Best Start To Year Since 1990
Tom Lydon • Fri, Feb 10, 2012 • 9 Comments
Muni Bond ETF Falls, But Did Anyone Hear It?
Benzinga • Fri, Nov 12, 2010 • 1 Comment
The Benefits of a High Yield Muni Bond ETF in a Tough Economy
Tom Lydon • Tue, Sep 21, 2010
Market Vectors Launches High-Yield Muni ETF: First of Its Kind
Ron Rowland • Fri, Feb 6, 2009 • 6 Comments

From Stockton To Puerto Rico: What's Driving The Muni Market?
Matt Tucker • Wed, Apr 10 • 3 Comments
Is Motown Bringing Down Your Muni Bond Portfolio?
Eric Parnell • Thu, Mar 14 • 13 Comments
Muni-Bond Outlook: Expecting High Relative Volatility Due To Low Yields, Potential Tax Changes
Morningstar • Wed, Feb 27 • 2 Comments
At What Tax Rate Are Munis Attractive?
Dan Morillo • Mon, Feb 18 • 2 Comments
Against The Grain: A 100% Bond Portfolio With Negative Correlation To A Broad Bond Market ETF
Brad Kenagy • Mon, Feb 11 • 19 Comments
BlackRock Cautious On Muni Bond ETFs
Tom Lydon • Thu, Feb 7 • 5 Comments
The Death of Bond ETFs? Change Your Fixed-Income Lenses
Gary Gordon • Fri, Jan 25 • 8 Comments
Fear And Loathing On Wall Street
Eric Parnell • Fri, Jan 25 • 183 Comments
Muni Bond ETF Outlook For 2013
Tom Lydon • Mon, Dec 31, 2012
Taxes And Dividends
David Fry • Wed, Dec 5, 2012 • 16 Comments
Is The Tax-Exempt Status Of Muni Bond ETFs In Jeopardy?
Tom Lydon • Wed, Dec 5, 2012 • 5 Comments
A High-Yield, Low-Risk Income Portfolio Using Uncorrelated ETFs
Ted Johnson • Wed, Dec 5, 2012 • 19 Comments
Fear Higher Taxes? Then Buy These Tax-Free High Yielders
StreetAuthority • Wed, Dec 5, 2012 • 9 Comments
Will New SEC Chief Walter Derail Muni Bond ETF Rally?
Tom Lydon • Wed, Nov 28, 2012
Best Muni Bond ETFs For Yield
Tom Lydon • Tue, Nov 27, 2012 • 1 Comment
Under The QE3 Hood: 2 Key Elements To Make The Market Run
Eric Parnell • Mon, Nov 26, 2012 • 18 Comments
Stock Outlook: Nothing Ado About Much
Eric Parnell • Sun, Nov 4, 2012 • 13 Comments
As the Fiscal Cliff Looms, Investors Favor Munis
Matt Tucker • Thu, Nov 1, 2012 • 8 Comments
Tax Proposal Puts Muni Bond ETFs At Risk
Tom Lydon • Fri, Oct 26, 2012 • 7 Comments
ETFs With High Tracking Error
Benzinga • Fri, Oct 19, 2012

There are no Transcripts on HYD.

Build America Bond program resurrected

at MarketWatch.com (Feb 14, 2011)
How to Profit From a Muni Bond Crisis

at CNBC.com (Feb 10, 2011)

HYD vs. ETF Alternatives

HYD Description

The High-Yield Municipal Index ETF (HYD) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays Capital Municipal Custom High Yield Composite Index. HYD is the nation’s first ETF to focus on high-yield munis, and tracks an index that has a 25% weighting in investment-grade triple-B bonds and 75% weighting in non-investment grade bonds. In addition, 75% of the index is in bonds issued as part of transactions of at least $100 million in size.
See more details on sponsor's website

Country: United States

Key Info

In Your Portfolio: Broad U.S. Bond ETFs, A Guide to Municipal Bond ETFs and Closed-End Funds
Asset Class Performance: Bonds

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Friday, May 17, 3:55 PM The bear market in gold (GLD, IAU) has left three closed-end funds trading at abnormally large discounts to NAV, says Morningstar's Cara Esser: GTU, CEF, and PHYS. Likewise, a small selloff in municipal (MUB) paper has left these muni CEFs at attractive values: NXR, MYD, NXP. 1 Comment [Quick Ideas]
Tuesday, May 7, 9:39 PM While fears of widespread defaults in the municipal bond (MUB) market (perpetuated in December of 2010 by Meredith Whitney) have so far proven overblown, Moody's says a disturbing trend seems to be developing. Although only five defaults were recorded in 2012, that's more than four times the average yearly rate logged from 1970 to 2007. Perhaps the most notable thing about last year's five defaults: three of them were general government defaults as opposed to defaults on bonds tied to specific projects. The historical average for general government muni defaults: 1 every 4.3 years. 4 Comments
Tuesday, April 23, 9:29 AM Forecasts of "Armageddon" for the the municipal bond market (MUB) are terribly misguided, writes Randall Forsyth. Higher rates? Variable rate financing is only a small fraction of the market, and any increase would come from rock-bottom levels. Recent bankruptcies? They get a lot of headlines, but last year accounted for just 1% of all obligations. This year, just 0.6%. Comment! [U.S. Economy]
Tuesday, April 23, 5:53 AM San Bernardino's council has passed a budget that will allow the bankrupt Californian city to restart $1.2M in biweekly employer contributions to Calpers while continuing to renege on its commitments to its other creditors, including bondholders. Along with Stockton, San Bernardino represents a test case over who should get paid first when a municipality goes bankrupt - the public employees or the bondholders. (previous) 4 Comments [Global & FX, Top Stories, U.S. Economy]
Thursday, April 18, 1:34 PM A butterfly flaps its wings in California? Tiny Canyon Lake (pop. 11K) notifies CalPERs it wants out of the pension plan, and says it's ready to pay a termination fee to do so. Behind the decision is CalPERs' recent approval of a 50% rise in employer contributions over the coming years. "How many cities might opt out," says a bankruptcy attorney. "The issue here for CalPERs is if Canyon Lake becomes a trend." Comment! [U.S. Economy]
Friday, April 12, 2:46 AM San Bernardino in California has proposed restarting bimonthly $1.2M employer contributions to Calpers almost a year after the city suspended the payments, although it will continue to renege on its commitments to other creditors, including bondholders. The decision highlights the battle over who should take most of the pain when a city goes bankrupt - the bondholders or the public servants. Comment! [U.S. Economy, Global & FX, Top Stories]
Tuesday, April 2, 10:00 AM Skittish municipal bond investors have driven the MUB below its NAV for more than two weeks - the longest stretch since the panicky period of August 2011. BAML sees opportunity noting munis have lost in March for 5 straight years as many investors sell holdings or avoid buying leading ahead of April 15 to help make tax payments. Comment! [Financials]
Monday, April 1, 3:41 PM In a blow to municipal bondholders, a judge rules Stockton, CA eligible for bankruptcy protection. The ruling let's stay the city's decision to keep pensions intact while imposing losses on those holding the town's paper. Jefferson County, AL and San Bernardino, CA - along with other municipalities - are watching closely. Bond insurer Assured Guaranty (AGO) slides 3.3%. 16 Comments [U.S. Economy]
Thursday, March 28, 1:21 PM A "perfect storm" of seasonal weakness combined with investors shifting money into stocks has opened up opportunity in the municipal closed-end sector, says Jeff Margolin. Muni CEFs fell 4.5% earlier this month even as NAVs declined just 0.5%, leaving the average CEF trading at a 1.1% discount to NAV vs. what has been a 3.2% premium. Comment! [Financials]
Wednesday, March 27, 4:56 AM A federal judge is due to hear closing arguments today about whether Stockton in California should be allowed to file for bankruptcy protection. The main is issue is whether the city can continue paying into the Calpers pension fund while forcing losses on bondholders. The case is being widely watched, with Alabama's Jefferson County and California's San Bernardino also considering breaking with the long-standing practice of meeting obligations to bondholders. 9 Comments [Global & FX, U.S. Economy]
Tuesday, March 12, 2:43 PM The MUB falls for a 7th straight session - now testing its 200-day moving average for the first time in 2 years. Municipals got beat up in late 2012 when it was rumored their tax-exempt status was to be served up as part of a budget deal. The scare subsided, but Morgan Stanley still sees a 30% chance of that happening. MUB -3.4% since the election. 6 Comments
Tuesday, March 12, 5:02 AM Illinois has become only the second state to be accused of securities fraud, with the SEC saying that it misled bond investors from 2005-2009 about the ever-worsening condition of its public workers' retirement plans by claiming that it was properly funding the scheme when it wasn't. However, while Illinois has agreed to a cease-and-desist order, it has escaped any fines and it hasn't had to admit any wrongdoing. (PR) 9 Comments [Global & FX, U.S. Economy]
Thursday, March 7, 3:14 AM The Detroit City Council has voted to appeal Rick Snyder's decision to put the city in a State of Emergency and appoint an outside manager to clean up its finances. The Michigan Governor is now scheduled to hold a hearing on Tuesday next week, and will decide whether or not to appoint the manager soon afterwards. Tellingly, Mayor Dave Bing doesn't back the appeal. 1 Comment [U.S. Economy]
Sunday, March 3, 2:42 AM Michigan Governor Rick Snyder declared Detroit to be in a state of emergency on Friday and said he would appoint an outside manager to help turn around its dire finances, which include $14B in long-term liabilities. City officials have ten days to persuade Snyder to change his mind. Should he uphold his decision, it would be the latest step in attempts to prevent Detroit filing what would be the biggest municipal bankruptcy in U.S. history. 26 Comments [U.S. Economy, Top Stories]
Wednesday, February 20, 2:54 AM Michigan Governor Rick Snyder has to decide whether to declare a financial takeover of Detroit by the state and appoint an emergency manager after a review team concluded that the city suffers "operational dysfunction" and faces a fiscal emergency due to its "chronic deficits and its long-term liabilities." Ultimately, Detroit might have to one day carry out what would be the biggest municipal bankruptcy filing in U.S. history. 3 Comments [U.S. Economy, Top Stories]
Wednesday, January 9, 5:09 AM Illinois legislators ended their 2012 session yesterday without taking any measures to deal with the state's $97B unfunded liabilities, which are rising by $17M a day and which could lead to more downgrades. "I think we may learn from Wall Street very shortly about the importance of doing this quickly," says state Senator Daniel Biss. "We all look like idiots." (previous) 11 Comments [Global & FX, U.S. Economy]

Michael Bryant
Market Vectors High-Yield Muni ETF ($HYD) is up 15.95% in the last year. http://yhoo.it/Y9BaiB
Jan 16, 12:00 PM
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Michael Bryant
Oh, and don't forget municipal bonds. If you live there, interest is tax free. How about Market Vectors High-Yield Muni ETF ($HYD)?
Jan 16, 11:55 AM
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Scooter-Pop
Run for hills with your HYD Muni Fund cash until Fed Taxation unknowns become known $HDGE
5/20/12
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ETFdesk
WaysToPlay: Eight ETFs That Will Add Income to Your Portfolio http://bit.ly/aaPX9K $AMJ $HYD $HYG $JNK $PFF $PGF $PUI $PZA #ETF #MKT #Munis
3/12/10
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ETFdesk
WaysToPlay: Eaton Vance Dumps Dirt Bonds as Florida Land Districts Default http://bit.ly/aQ2ann $HYD #ETF #MKT #Munis
3/10/10
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djn21
Very, very cash-heavy, and what's not cash is in TIP, HYD, JNJ... might as well be cash. May take JNJ profit if support doesn't hold here
1/22/10
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ETFdesk
WaysToPlay: Long-Term Tax-Exempts Gain as Build America Bonds Sap Supply http://bit.ly/5Ru0gn $HYD #ETF #MKT #
12/10/09
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djn21
Am ultra-heavy cash now, but interested in adding to fixed income positions - maybe re-entering HYD. Also PFF.
12/8/09
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djn21
Sold HYD today at $30. Positively parabolic in the last month, so I'm taking profits - trading my dividend play, seeking lower re-entry.
9/16/09
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djn21
I am interested putting money to work in bond ETF's. HYD has performed exceptionally well and it may be time for me to take profits.
9/15/09
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Market Vectors High-Yield Municipal Index ETF