Eaton Vance Michigan Municipal Bond Fund is a closed-end investment company. Its objective is to provide current income exempt from regular federal income tax, including alternative minimum tax, and, in state specific funds, tax in its specified state.
Friday, Jul 192013, 3:36 PMAfter 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%). |Friday, Jul 192013, 3:36 PM| 11 Comments