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During the first half of the year, municipal bonds (munis) shrugged off the rise in long-term U.S. interest rates and crushed their taxable counterparts. Looking at fundamental credit strength, state tax receipts are much better than were estimated a year ago. Municipal bonds are ...
While political forces could alter their course, we believe that passage of these infrastructure bills would have a positive impact on the municipal market. If enacted into law, taxes for high income earners are likely to increase, which could fuel additional demand for tax-free munic...
Many municipal negative sector outlooks assigned during the pandemic were revised back to stable during the first and second quarters. As mentioned earlier, the states of CT, IL, and NJ have been improving, albeit from low levels. They have put in place plans to increase the funding o...
Faced with higher inflation numbers, the Federal Reserve has begun to create more meaningful parameters around its evolving stance on monetary policy. Although the changes could be less dramatic than many expect, we believe that investors should be prepared for higher market volatilit...
The second quarter of 2021 saw a drop in US Treasury yields, as well as in high-grade tax-free bond yields. The quarter in general was one that saw continued increases in month-over-month inflation but little real reaction in the bond markets. The Federal Reserve has continued to ...
The potential for higher U.S. taxes, coupled with regulatory risks and shifting growth momentum, tempers our near-term enthusiasm for U.S. equities. Euro area business activity surged in June as the region catches up on the restart that has been led by the U.S. and UK. Investors w...
Muni CEF discounts are closing by the day. I believe they will reach a premium in the next few months (perhaps sooner). We have remained steadfastly bullish on tax-free munis, especially high-yield munis in 2021, for numerous reasons. Our view is that rates have made the bulk of t...
During the fund flows week, investors continued their search for yield, injecting a net $2.0 billion and $1.9 billion into taxable bond funds (including ETFs) and municipal bond funds, respectively. On the taxable side, Short Investment-Grade Debt Funds (+$884 million) attracted the l...
With the post-pandemic US economy on the mend, a new threat has emerged: inflation. A confluence of pent-up consumer demand, record household savings, low inventories and global shortages has ignited the sharpest near-term price hikes in decades. Effective inflation-protection str...
Municipals posted another month of positive performance amid range-bound interest rates. Fiscal stimulus and infrastructure uncertainty limited municipal issuance. Summer seasonal supply-demand dynamics have historically boded well for muni performance. For further details s...
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Blackrock MuniHoldings Investment Quality Fund of Beneficial Interest Company Name:
MFL Stock Symbol:
NYSE Market:
BlackRock Advisors, LLC announced today that, at a joint special meeting of shareholders (the “Meeting”) of BlackRock MuniHoldings Investment Quality Fund (NYSE: MFL), the requisite vote of shareholders of MFL have approved the reorganization of MFL with and into BlackRock...
BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of BlackRock MuniHoldings Investment Quality Fund (NYSE: MFL) and BlackRock Muni Intermediate Duration Fund, Inc. (to be renamed “BlackRock Municipal Income Fund, Inc." effective October 1, 2021) (NYSE:...
BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of forty eight BlackRock municipal, taxable fixed income, and equity closed-end funds (the “Funds”) have authorized the renewal of open market share repurchase programs (the “Repurchase Pr...