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JAMES COLBY

Portfolio Manager and Senior Municipal Strategist, responsible for Market Vectors municipal bond investments
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CALENDAR of POSTS

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MUNICIPAL-ORIENTED ETFs

CEF Municipal Income ETF* XMPT 
High-Yield Municipal Index ETF HYD 
Intermediate Municipal Index ETF ITM 
Long Municipal Index ETF MLN 
Pre-Refunded Municipal Index ETF PRB 
Short Municipal Index ETF SMB 
*XMPT is a “fund of funds” and is subject to the risks of the underlying funds’ investments.
 

Financial Professional Access

 

Road Map - Friday, 04/27/2012

With flows continuing to favor municipals, BBB-rated munis are receiving recommendations as their spreads to investment-grade muni bonds continue to compress. Even in a rising rate environment, the less volatile BBBs have historically outperformed investment-grade munis and have provided a potential cushion to a diversified portfolio.

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Authored by James Colby

From Tax Freedom To Tax-Free Opportunity - Friday, 04/20/2012

This week we arrived at Tax Freedom Day, the first day of the year in which the nation as a whole has theoretically earned enough income to fund its annual tax burden. I can only speculate that the slowdown of inflows into munis is possibly related to investors allocating their financial resources to tax obligations. I do not presume that they are using any muni facility for funding purposes but the drop in activity is not unexpected at this time of the year.

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Authored by James Colby

Stepping Into 2Q'12 - Friday, 04/13/2012

An equity market rebound, such as we witnessed yesterday (+181 points as measured by the DJIA1), usually spells doom for the fixed-income markets. Additionally, the revelation that Bill Gross has reduced his holdings in U.S. Treasuries by 4-5% would further the notion that the day would go badly for bonds. And with the Treasury auction of $13billion of 30 year-bonds...

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Authored by James Colby

Credit Quality Update - Thursday, 04/05/2012

Governmental issuers of municipal bonds will continue under scrutiny as long as unemployment remains above 8% and the soft housing market continues. This focus is warranted due to concerns over muni bond price declines for issuers struggling with economic recovery.

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Authored by James Colby

© 2013 Van Eck Securities Corporation. All rights reserved.

Important Disclosure 

Van Eck Associates Corporation does not provide tax, legal or accounting advice. Investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service.

Please note that the information herein represents the opinion of Jim Colby and these opinions may change at any time and from time to time. Not intended to be a forecast of future events, a guarantee of future results or investment advice. Current market conditions may not continue. Non-Van Eck Global proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of Van Eck Global. © 2013 Van Eck Securities Corporation. MUNI NATION is a service mark of Van Eck Associates Corporation.

All indices listed are unmanaged indices and do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

Any discussion of specific securities mentioned in the commentary is neither an offer to sell nor a solicitation to buy these securities.

Municipal bonds are subject to risks related to litigation, legislation, political change, conditions in underlying sectors or in local business communities and economies, bankruptcy or other changes in the issuer’s financial condition, and/or the discontinuance of taxes supporting the project or assets or the inability to collect revenues for the project or from the assets. Bonds and bond funds will decrease in value as interest rates rise. Additional risks include credit, interest rate, call, reinvestment, tax, market and lease obligation risk. High-yield municipal bonds are subject to greater risk of loss of income and principal than higher-rated securities, and are likely to be more sensitive to adverse economic changes or individual municipal developments than those of higher-rated securities. Municipal bonds may be less liquid than taxable bonds.

The income generated from some types of municipal bonds may be subject to state and local taxes as well as to federal taxes on capital gains and may be subject to alternative minimum tax.

Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 888.MKT.VCTR | 888.658.8287. Please read the prospectus and summary prospectus carefully before investing.  

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