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SPDR Nuveen Barclays Municipal Bond ETF (TFI)

- NYSEARCA
  • 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
  • Aug. 13, 2013, 12:44 PM
    • Tumbling Treasury prices - with TLT carving out a new 52-week low today - are again hitting income favorites.
    • Leading mREITs (REM -1.4%) lower are Invesco (IVR -3.3%), Annaly (NLY -2.3%), American Capital (AGNC -2%), and Western Asset (WMC -1.6%).
    • A number of income CEFs not long ago were so much in favor they commanded large premiums to NAV. They're now at seemingly growing-by-the-day discounts. Among the movers today is the Pimco Dynamic Income Fund (PDI -1.4%) selling for $27.45 against yesterday's closing NAV of $30.23. Others include: PCI, PFN, and PFL.
    • Still trading at premiums to NAV are the Pimco High Income Fund (PHK -0.9%) and the Pimco Corporate & Income Fund (PTY -1.1%).
    • Municipals (MUB -0.6%) slip as well, hitting Muni CEFs: NXZ -0.9%, IIM -1.2%, VKQ -0.7%.
    • Related ETFs: MORT, MORL, SUB, MUNI, PVI, PZA, SHM, TFI, VRD, HYD, ITM, MLN, PRB, SMB, GMMB, SMMU, RVNU, NY .
    | Comment!
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TFI Description
SPDR Nuveen Barclays Municipal Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Municipal Managed Money Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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Country: United States
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