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iShares National AMT-Free Muni Bond ETF (MUB)

- NYSEARCA
  • Mon, Mar. 2, 2:03 PM
    • iShares S&P National Municipal Bond Fund (NYSEARCA:MUB) announces monthly distribution of $0.240.
    • 30-Day Sec yield of 1.49% (as of 2/26/2015).
    • Payable Mar 6; for shareholders of record Mar 4; ex-div Mar 2.
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  • Sat, Feb. 28, 7:45 AM
    • Chicago's credit rating was downgraded Friday by Moody's to Baa2, two notches above junk, with a negative outlook on the “expectation that the city’s credit quality could weaken as unfunded pension liabilities grow and exert increased pressure on the city’s operating budget."
    • Chicago's four pension funds have ~$20B in unfunded debt, and without further action the city would need to increase its payments to those accounts by $600M next year and even more after that.
    • The rating includes the city’s $8.3B billion of outstanding GO debt, $542M of outstanding sales tax revenue debt, and $268M of outstanding or authorized motor fuel tax revenue debt.
    • The downgrade could immediately terminate four interest rate swap agreements, costing the city ~$58M, and potentially lead to terminations of 11 more swaps deals that could cost another $133M.
    • Also yesterday, S&P warned it could slap its own multi-notch downgrade on Chicago in the absence of a plan this year to deal with the pension crisis.
    • It's all another big headache for Mayor Rahm Emanuel, who is facing a surprise run-off in his bid for re-election.
    • Muni ETFs: MUB, HYD, BAB, PZA, MUNI, TFI, ITM, HYMB, MLN, CMF, SHM, BABS, XMPT
    | 43 Comments
  • Mon, Feb. 2, 2:51 PM
    • iShares S&P National Municipal Bond Fund (NYSEARCA:MUB) announces monthly distribution of $0.243.
    • 30-Day Sec yield of 1.43% (as of 1/29/2015).
    • Payable Feb 6; for shareholders of record Feb 4; ex-div Feb 2.
    | Comment!
  • Wed, Jan. 7, 3:49 PM
    • The ETF version of the Vanguard Tax-Exempt Bond Index Fund will cost just 0.12% vs. 0.25% for the $4.2B AUM iShares National AMT-Free Muni Bond ETF (NYSEARCA:MUB). Both ETFs will track the same S&P National AMT-Free Municipal Bond Index.
    • Vanguard already operates active muni funds, but this one will be passive.
    • One of the "gaps in Vanguard's lineup" is no more, says S&P Capital IQ's Todd Rosenbluth.
    • ETFs: MUB, PZA, TFI, XMPT, PRB, PVI, RVNU, VRD, FMB
    | 1 Comment
  • Dec. 1, 2014, 10:55 AM
    • iShares S&P National Municipal Bond Fund (NYSEARCA:MUB) announces monthly distribution of $0.2434.
    • 30-day SEC yield of 1.67% (as of 11/26/2014).
    • Payable Dec 5; for shareholders of record Dec 3; ex-Div. Dec 1.
    | Comment!
  • Nov. 14, 2014, 3:13 PM
    • The muni bond market typically slows towards the end of the year, but issuers - all trying to take advantage of low rates - might temporarily overwhelm demand in coming weeks, and allow for some bargains in the secondary market.
    • "Individual investors should be paying close attention and remain engaged," says Morgan Stanley. "The potential for temporary periods of outsized ($8B or more) issuance specifically surrounding Thanksgiving week could also create a temporary supply/demand imbalance in the primary market."
    • Longer-term, the team remains cautious thanks to its (and everyone else's) expectation that rates should rise next year.
    • ETFs: MUB, PZA, TFI, XMPT, PRB, PVI, RVNU, VRD, FMB
    | Comment!
  • Nov. 7, 2014, 2:25 PM
    • Judge Steven Rhodes has ruled the city's restructuring plan - notable for the sizable losses it imposes on bondholders while preserving much of Detroit's pension liabilities - is fair and feasible.
    • "The city is insolvent and desperately needs to fix its future," says Rhodes, who calls the Detroit's settlement with pensioners a nearly "miraculous" outcome.
    • The city is expected to exit bankruptcy within weeks.
    • ETFs: MUB, PZA, TFI, XMPT, PRB, PVI, RVNU, VRD, FMB
    | 3 Comments
  • Nov. 3, 2014, 1:48 PM
    • iShares S&P National Municipal Bond Fund (NYSEARCA:MUB) announces monthly distribution of $0.2387.
    • 30-day SEC yield of 1.56% (as of 10/30/2014).
    • Payable Nov 7; for shareholders of record Nov 5; ex-Div. Nov 3.
    | Comment!
  • Oct. 31, 2014, 2:53 PM
    • "October 1 was an academic exercise," says a pension-law expert. "[Thursday] was a reality check." The lawyer is referring to a bankruptcy judge yesterday approving Stockton, CA's reorganization plan which leaves untouched its pension obligations. On Oct. 1 that same judge had ruled Stockton could cut its payments to Calpers as it emerged from bankruptcy.
    • Ultimately, city managers - already faced with a hard time retaining municipal workers - decided slashing pension benefits would force an even quicker rush to the exits.
    • Losers when the ruling was issued, government pension plans and organized government labor groups are pleased, but advocates for pension reform say the reorganization plan is a mistake as it allows the city to exit bankruptcy without dealing with the pension obligations which helped put it there in the first place.
    • Monolines today: Ambac (AMBC +4.7%), Assured Guaranty (AGO +1.8%), MBIA (MBI +1.1%).
    • Muni ETFs: MUB, PZA, TFI, CMF, XMPT, PRB, PWZ, CXA, PVI, RVNU, VRD, FMB
    | 2 Comments
  • Oct. 17, 2014, 4:10 AM
    • Detroit has taken a major step towards exiting bankruptcy protection after agreeing to a deal with with its largest holdout creditor, Financial Guaranty Insurance Company, which is owed $1B.
    • Under the settlement, Financial Guaranty will have the rights to develop a hotel, retail and condominium complex on the site of the Joe Louis Arena, the soon-to-be-vacant home the Detroit Red Wings hockey team.
    • The dispute between Detroit and Financial Guaranty had threatened other important deals that the city had forged with thousands of creditors.
    • ETFS: MUB, HYD, BAB, PZA, MUNI, TFI, ITM, HYMB, MLN, CMF, SHM, BABS, XMPT, PRB, SUB, PZT, SMB, NYF, SHYD, CXA, PWZ, PVI, SMMU, INY, VRD, GMMB, RVNU
    | 1 Comment
  • Oct. 1, 2014, 9:42 AM
    • iShares S&P National Municipal Bond Fund (NYSEARCA:MUB) announces monthly distribution of $0.2498.
    • 30-day SEC yield of 1.68% (as of 9/29/2014).
    • Payable Oct. 7; for shareholders of record Oct. 3; ex-Div. Oct. 1.
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  • Sep. 2, 2014, 7:33 AM
    • iShares S&P National Municipal Bond Fund (NYSEARCA:MUB) announces monthly distribution of $0.252.
    • 30-day SEC yield of 1.74% (as of 8/28/2014).
    • Payable Sept. 8; for shareholders of record Sept. 4; ex-Div. Sept. 2.
    | Comment!
  • Aug. 28, 2014, 8:04 AM
    • Maybe not wanting competition for federal government debt, U.S. regulators are set to approve a final liquidity rule next week reportedly excluding municipal bonds from being among banks' high-quality, highly liquid assets. Treasurys and balances held at the Fed, of course, would be allowed.
    • Wells Fargo (NYSE:WFC) - with $47.3B - is the largest holder of municipals among the four largest U.S. banks. It hasn't said how much of that amount is included in its liquidity tally, but did say it was compliant with the international rule and awaiting the final U.S. version.
    • Both banks and local governments had naturally argued to include munis in the final rule. "[This] will almost certainly decrease liquidity in asset markets disfavored by the rule," says ABA President Frank Keating.
    • Muni ETFs: MUB, PZA, TFI, XMPT, PRB, PVI, VRD, RVNU, FMB
    • Financial sector ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, SEF, IYG, FXO, FNCL, FINU, RWW, RYF, FINZ
    | 34 Comments
  • Aug. 1, 2014, 2:34 PM
    • iShares S&P National Municipal Bond Fund (NYSEARCA:MUB) announces monthly distribution of $0.253.
    • 30-day SEC yield of 1.86% (as of 07/30/2014).
    • Payable Aug 7; for shareholders of record Aug 5; ex-Div. Aug 1.
    | Comment!
  • Jul. 11, 2014, 1:59 AM
    • U.S. municipal bond funds had some of the biggest outflows since January, after investors pulled out $790M in the week ended July 9. $691M of the outflows was in the high-yield sector, being withdrawn due to default concerns of Puerto Rican debt.
    • Adding to the worries is Puerto Rico's newest law which allows for public corporations to restructure their debt. The new law pushed ratings agencies last week to downgrade the commonwealth's bonds even lower within junk territory.
    • Barclays High Yield Municipal Bond Index, up more than 9.5% in mid-June, was up less than 5.5% this past Wednesday.
    • ETFs: MUB, HYD, BAB, PZA, MUNI, TFI, HYMB, ITM, MLN, SHM, CMF, XMPT, BABZ, BABS, PRB, SHYD, SMB, NYF, PZT, SUB, PWZ, CXA, PVI, SMMU, INY, MUAF, VRD, MUAD, MUAE, GMMB, MUAC, MUAG, RVNU, MUAH, FMB
    | Comment!
  • Jul. 7, 2014, 1:45 PM
    • As detailed in a recent regulatory filing, Invesco Powershares will update the names and underlying indexes for 3 of its 4 municipal bond ETFs on July 8th.
    • The PowerShares Insured California Municipal Bond Portfolio (PWZ) will be renamed to the PowerShares California AMT-Free Municipal Bond Portfolio and will start tracking the BofA Merrill Lynch California Long-Term Core Plus Municipal Securities Index.
    • The PowerShares Insured National Municipal Bond Portfolio (PZA) will be renamed to the PowerShares National AMT-Free Municipal Bond Portfolio and will start tracking the BofA Merrill Lynch National Long-Term Core Plus Municipal Securities Index.
    • The PowerShares Insured New York Municipal Bond Portfolio (PZT) will be renamed to the PowerShares New York AMT-Free Municipal Bond Portfolio and will start tracking the BofA Merrill Lynch New York Long-Term Core Plus Municipal Securities Index.
    • Other CA, NY and national municipal bond ETFs: PZT, NYF, INY, MUB, PZA, TFI, CMF, XMPT, PRB, PWZ, CXA, PVI, VRD, RVNU, FMB
    | Comment!
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MUB Description
The iShares S&P National AMT-Free Municipal Bond Fund seeks results that correspond generally to the price and yield performance, before fees and expenses, of the municipal bond sector of the United States as defined by the S&P National AMT-Free Municipal Bond Index.
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Country: United States
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