“Investors should gather as much relevant information as they can before spending their hard-earned dollars on any investment,” SEC Chairman Elisse Walter said, Bloomberg reports. “While I will continue to push for enhanced and more timely disclosure by those who issue municipal securities, investors should continue to learn all they can before purchasing them.”
The iShares S&P National AMT-Free Municipal Bond ETF (NYSEArca: MUB) bounced off its 200-day simple moving average in the weeks before the fiscal cliff deadline as investors weighed the likelihood of Congress changing the tax-exempt status on munis. The ETF is now testing its 50-day average.
For more information information on the muni market, visit our municipal bonds category.
Max Chen contributed to this article.