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BBN - I Still Like Taxable Munis But BBN's High Premium Is A Concern
BlackRock Taxable Municipal Bond Trust of Beneficial Interest
Taxable munis still offer relative value, in terms of income, compared to corporate bonds of similar credit ratings.
If investors anticipate additional stimulus in 2021, muni bonds should get a boost in the new year.
Despite these tailwinds, there are a few reasons to be cautious on BBN. The fund is sitting at a historically high level, and appears expensive in isolation and compared to its peers.
BBN has significant exposure to some of the hardest hit states in the country. This could pose a challenge if federal support falls short.