>Closed-end [muni] funds are offering close to 10% yields now (tax-equivalent). I own BFK.<
The funds that use leverage may have pending markdowns to NAV from the inability to rollover auction-rate securities. I would suggest closed-end muni funds such as NUV that do not use leverage but have nonetheless had their share price whacked.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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