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Joe Mysack: Muni market under assault from tax bill

Published 11/06/2017, 01:00 PM
Updated 11/06/2017, 01:00 PM
© Reuters.  Joe Mysack: Muni market under assault from tax bill
  • His initial impression - that the tax bill would eliminate 20%-33% of the muni market - now looks conservative upon further inspection, writes Joe Mysack at Bloomberg.
  • "To appreciate the enormity of the Republicans’ assault on the municipal debt market, you have to go to the Municipal Securities Rulemaking Board’s glossary and look at the definition of 'Private Activity Bond,'" he writes.
  • He now figures, the GOP proposal would blow up at least one-third of the muni market, and perhaps as much as 40%, depending on what interest rates do.
  • ETFs: MUB, NVG, NEA, IIM, NUV, NAD, PML, NZF, PMF, LEO, PMX, VMO, EVN, KTF, BFK, PZA, AFB, VGM, DSM, EIM, NXP, BLE, IQI, XMPT, PMM, VKI, VKQ, BKN, MYD, MVF, TFI, MUA, MYI, MVT, PMO
  • Now read: NXP: Some More Quality Muni Goodness


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