Tuesday, November 16, 2010

Muni bonds

The carnage in muni bond ETFs (there are hundreds, just google them) seems to be now spilling over into some other bond ETFs, such as PHK and PGP, which are trading at steep premiums to NAV.  Maybe this will be the catalyst to cause them to revert to their NAV values (at the time of this writing, $9/sh for PHK and $14/sh for PGP