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HEADLINES:

From Stockton To Puerto Rico: What's Driving The Muni Market?
Matt Tucker • Wed, Apr 10 • 3 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
Determining The Best Fixed-Income Investments: True Future Total Return Enhanced
Kurt Shrout • Tue, Nov 13, 2012
Muni Bond ETFs And The Election
Tom Lydon • Tue, Nov 6, 2012 • 2 Comments
As the Fiscal Cliff Looms, Investors Favor Munis
Matt Tucker • Thu, Nov 1, 2012 • 8 Comments
Tax Debate Puts Dividend, Muni Bond ETFs In Focus
Tom Lydon • Mon, Oct 29, 2012 • 1 Comment
The Best Intermediate-Term Non-Junk Individual Bond Investments
Kurt Shrout • Wed, Oct 17, 2012
The Best All/Intermediate-Term Non-Junk Bond Investments
Kurt Shrout • Tue, Oct 16, 2012
Municipal Bonds For The Summer Season
Alpha Guru • Wed, Sep 19, 2012 • 2 Comments
Muni Maturing? Proceed With Caution!
Jon R. Orcutt • Thu, Jun 28, 2012 • 8 Comments
Muni Bond ETFs As Alternative To Treasuries
Tom Lydon • Thu, Jun 7, 2012
Muni Bonds, Corresponding ETFs Off To Best Start To Year Since 1990
Tom Lydon • Fri, Feb 10, 2012 • 9 Comments
Obama Proposals Would Hit Municipal Bonds With A Tax Double Whammy
Richard Shaw • Fri, Sep 30, 2011 • 85 Comments
Stocks To Watch Coming Off A Tough Week
Scott's Investments • Mon, Sep 26, 2011
Muni-Bond Tax Exemption At Risk In Obama Jobs Proposal
Richard Shaw • Tue, Sep 13, 2011 • 9 Comments
Time to Load Up on Muni Bond ETFs?
Matt Tucker • Wed, Aug 3, 2011 • 1 Comment
A Different Kind of Muni Bond ETF: Van Eck Debuts XMPT
Michael Johnston • Wed, Jul 13, 2011
Give Munis a Second Look
Jim Van Meerten • Wed, Mar 23, 2011 • 6 Comments
U.S. State and Local Governments Facing Unprecedented Fiscal Strains; Outlook Remains Negative
Research Recap • Thu, Mar 17, 2011

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Give Munis a Second Look
Jim Van Meerten • Wed, Mar 23, 2011 • 6 Comments
James Colby: Muni ETFs Gain Assets in Face of Credit Crisis
IndexUniverse • Mon, Mar 9, 2009 • 3 Comments

From Stockton To Puerto Rico: What's Driving The Muni Market?
Matt Tucker • Wed, Apr 10 • 3 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
Determining The Best Fixed-Income Investments: True Future Total Return Enhanced
Kurt Shrout • Tue, Nov 13, 2012
Muni Bond ETFs And The Election
Tom Lydon • Tue, Nov 6, 2012 • 2 Comments
As the Fiscal Cliff Looms, Investors Favor Munis
Matt Tucker • Thu, Nov 1, 2012 • 8 Comments
Tax Debate Puts Dividend, Muni Bond ETFs In Focus
Tom Lydon • Mon, Oct 29, 2012 • 1 Comment
The Best Intermediate-Term Non-Junk Individual Bond Investments
Kurt Shrout • Wed, Oct 17, 2012
The Best All/Intermediate-Term Non-Junk Bond Investments
Kurt Shrout • Tue, Oct 16, 2012
Municipal Bonds For The Summer Season
Alpha Guru • Wed, Sep 19, 2012 • 2 Comments
Muni Maturing? Proceed With Caution!
Jon R. Orcutt • Thu, Jun 28, 2012 • 8 Comments
Muni Bond ETFs As Alternative To Treasuries
Tom Lydon • Thu, Jun 7, 2012
Muni Bonds, Corresponding ETFs Off To Best Start To Year Since 1990
Tom Lydon • Fri, Feb 10, 2012 • 9 Comments
Obama Proposals Would Hit Municipal Bonds With A Tax Double Whammy
Richard Shaw • Fri, Sep 30, 2011 • 85 Comments
Stocks To Watch Coming Off A Tough Week
Scott's Investments • Mon, Sep 26, 2011
Muni-Bond Tax Exemption At Risk In Obama Jobs Proposal
Richard Shaw • Tue, Sep 13, 2011 • 9 Comments
Time to Load Up on Muni Bond ETFs?
Matt Tucker • Wed, Aug 3, 2011 • 1 Comment
A Different Kind of Muni Bond ETF: Van Eck Debuts XMPT
Michael Johnston • Wed, Jul 13, 2011
U.S. State and Local Governments Facing Unprecedented Fiscal Strains; Outlook Remains Negative
Research Recap • Thu, Mar 17, 2011
The Looming Muni-Bond Meltdown: Profit From the Collapse - And From the Rebound
Shah Gilani • Thu, Mar 3, 2011 • 51 Comments

There are no Transcripts on ITM.

Build America Bond program resurrected

at MarketWatch.com (Feb 14, 2011)

ITM vs. ETF Alternatives

ITM Description

The Market Vectors Intermediate Municipal Index ETF (ITM) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays Capital AMT-Free Intermediate Continuous Municipal Index . The Index provides broad exposure to investment-grade municipal bonds with a nominal maturity of 6-17 years.
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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| On the move

Monday, May 20, 12:30 PM The hot market for corporate junk (HYG, JNK) has pushed the yield on high-yield corporates (4.88%) well below that of high-yield municipals (5.22% nominally, over 8% on a tax-equivalent basis). The nominal spread of 34 bps is down from 56 bps a week ago as investors take notice of the anomaly. High-yield muni ETFs: HYD, HYMB, XMPT. 3 Comments
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. 2 Comments [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]

O. Young Kwon
TANER Rotation Model [TRM] Momentum 12/17/2012 (Monday): (2-3) <$ITM $XBI $SLV) Market Vectors Municipals ETF ($ITM)
12/16/12
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O. Young Kwon: Click: http://seekingalpha.com/p/p9e3 For "The Daily TANER Momentum" <c>
12/16/12
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O. Young Kwon: (The numbers are terms in months.) For The TANER System and its four Models, read my article. Link:http://seekingalpha.com/a/hitr yk
12/16/12
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O. Young Kwon
TANER Rotation Model [TRM] Momentum 10/30/2012 (Tuesday): (3) <HYG KCE XRT ITM XES> i Shares High Yield Corp Bonds (HYG) <c>
10/29/12
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O. Young Kwon: Click: http://seekingalpha.com/p/p9e3 For "The Daily TANER Momentum" <c>
10/29/12
• !Report Abuse
O. Young Kwon: (The numbers are terms in months.) For The TANER System and its four Models, read my article. Link:http://seekingalpha.com/a/hitr yk
10/29/12
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Vertical Spread
IAU - what a boring investment, I can't get but 80 bucks for an ITM Call all the way to January?
9/25/12
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John R. Conway
Picked up some PM Oct 90 calls and will be looking at WMT ITM calls
8/27/12
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O. Young Kwon
ector Rotation TANER Momentum (1-3) on 8/7/2012 (Tuesday):RWR (REIT) KCE (Capital Markets) ITM (Municipals) <c>
8/7/12
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O. Young Kwon: R (2-3) HYG (High Yield Corp Bonds) XBI (Biotech) VEA (Vanguard MSCI EAFE) yk
8/7/12
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goferit
Wow!....I bought WFM Aug calls @ strike $87.5 for $2.35. Looks like it will be ITM tomorrow....nice! Now, what to buy for Thurs AF earning
7/25/12
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goferit: Can't sell options AH....so hope WFM gains sustain. What u think of Thurs AMZN & SBUX earning? What about DNKN?
7/25/12
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Maria Auziliadora: WFM will sustain quite a bi!!!
7/25/12
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oikonomia
F $10 LEAPS (Jan 14) look enticing at $1.99 - maybe even deeper ITM at $8 would be a good play...
5/23/12
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oikonomia: John, would you play GM deep in the money calls, too? Or avoid it altogether...
5/23/12
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John R. Conway: More familiar with trading Ford, but both have been trading side by side for a while.
5/23/12
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Rocco Pendola
Choosing between ITM, ATM, OTM options: http://seekingalpha.com/a/9qav $AAPL $AMZN $CMG $RL $PCLN $TWX
3/23/12
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JayWright
AAPL touched 600 for a split second and back down. Please get there and stay there, got some options that need to get ITM...
3/19/12
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mjohn1223
long $AAPL. thinkin bout selling 100 stk and buying 2 deep ITM LEAPs, i.e. Jan 13 400C. Net pkt ~$25K & control 200 sh. thots?
2/27/12
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apspice: sounds like a safe bet to me...
2/27/12
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LATEST REPLIES

O. Young Kwon
TANER Rotation Model [TRM] Momentum 12/17/2012 (Monday): (2-3) <$ITM $XBI $SLV) Market Vectors Municipals ETF ($ITM)
12/16/12
Reply (3)

• !Report Abuse
View all 3 replies
O. Young Kwon: Click: http://seekingalpha.com/p/p9e3 For "The Daily TANER Momentum" <c>
12/16/12
• !Report Abuse
O. Young Kwon: (The numbers are terms in months.) For The TANER System and its four Models, read my article. Link:http://seekingalpha.com/a/hitr yk
12/16/12
• !Report Abuse
Add a reply...

140 characters

O. Young Kwon
TANER Rotation Model [TRM] Momentum 10/30/2012 (Tuesday): (3) <HYG KCE XRT ITM XES> i Shares High Yield Corp Bonds (HYG) <c>
10/29/12
Reply (3)

• !Report Abuse
View all 3 replies
O. Young Kwon: Click: http://seekingalpha.com/p/p9e3 For "The Daily TANER Momentum" <c>
10/29/12
• !Report Abuse
O. Young Kwon: (The numbers are terms in months.) For The TANER System and its four Models, read my article. Link:http://seekingalpha.com/a/hitr yk
10/29/12
• !Report Abuse
Add a reply...

140 characters

O. Young Kwon
ector Rotation TANER Momentum (1-3) on 8/7/2012 (Tuesday):RWR (REIT) KCE (Capital Markets) ITM (Municipals) <c>
8/7/12
Reply (1)

• !Report Abuse
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O. Young Kwon: R (2-3) HYG (High Yield Corp Bonds) XBI (Biotech) VEA (Vanguard MSCI EAFE) yk
8/7/12
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140 characters

goferit
Wow!....I bought WFM Aug calls @ strike $87.5 for $2.35. Looks like it will be ITM tomorrow....nice! Now, what to buy for Thurs AF earning
7/25/12
Reply (4)

• !Report Abuse
View all 4 replies
goferit: Can't sell options AH....so hope WFM gains sustain. What u think of Thurs AMZN & SBUX earning? What about DNKN?
7/25/12
• !Report Abuse
Maria Auziliadora: WFM will sustain quite a bi!!!
7/25/12
• !Report Abuse
Add a reply...

140 characters

oikonomia
F $10 LEAPS (Jan 14) look enticing at $1.99 - maybe even deeper ITM at $8 would be a good play...
5/23/12
Reply (4)

• !Report Abuse
View all 4 replies
oikonomia: John, would you play GM deep in the money calls, too? Or avoid it altogether...
5/23/12
• !Report Abuse
John R. Conway: More familiar with trading Ford, but both have been trading side by side for a while.
5/23/12
• !Report Abuse
Add a reply...

140 characters

mjohn1223
long $AAPL. thinkin bout selling 100 stk and buying 2 deep ITM LEAPs, i.e. Jan 13 400C. Net pkt ~$25K & control 200 sh. thots?
2/27/12
Reply (1)

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apspice: sounds like a safe bet to me...
2/27/12
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Dr. Kris
Wow! 15 muni funds @ new highs: $EVN, $MUS, $MYI, $MUI, $MUC, $MUE, $ITM, $MCA, $PZA, $PML, $BFK, $BFZ, $MYN, $NQU, $PML (6-7% yields)
1/5/12
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Dr. Kris: Haven't looked at these in detail but I'd consider those that trade at higher volumes (BFK, MYI, MUI, ITM, PZA). Also, check fund tax status
1/5/12
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2975hbr140: Fair enough.
1/5/12
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Brian Benda
Sold QQQ puts, had 500 ITM puts from 56-59. Was holding half of them since Tuesday morning highs.
12/15/11
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Brian Benda: "ITM" meaning "in-the-money", not the Muni ETF.
12/15/11
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campusglass
Considering buying 95 Dollar ITM calls for GS if market falls again tomorrow
11/16/11
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campusglass: IDK.....They said they have sold 5 trillion of CDS but havent said on what...
11/16/11
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golfitobob: but, we c Politicos demanding banks TAKE losses & not trigger CDS payments.GS is one of those banks that will take haircuts & get no Insur !
11/16/11
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ITM Market Vectors Intermediate Municipal Index ETF

ITM

Market Vectors Intermediate Municipal Index ETF