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BBN - BBN: Optimistic Outlook Fades For Taxable Muni Fund That Has Been Outperforming Equities
BlackRock Taxable Municipal Bond Trust of Beneficial Interest
Main Thesis
The purpose of this article is to evaluate the Taxable Municipal Bond Trust (BBN) as an investment option at its current market price. This is a fund I heavily recommended last quarter, and it has performed extremely well. While I typically advocate buying tax-exempt muni bonds, the taxable muni bond sector has seen a sharp uptick in activity since the middle of last year. As interest rates declined and municipalities rushed to refinance, they were forced in to the taxable sector due to limitations of muni refundings in the 2017 tax