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Wednesday, 09 July 2008 |
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After a year of free fall, is it time to buy munibonds now?
It may be. High-yield munibond funds like the Legg Mason Partners Municipal High Income (STXAX) have made some gains in the past few months of 2.5%.
High-yield munibonds that fund the construction of hospitals and schools are riskier than bonds that fund basic state and local governments. But they’re returning 3% more than safer munibonds.
Best of all, the STXAX costs an initial investment of only $500, with additional investments of $50.
That’s a cheap investment for a safe haven portfolio. The munibond fund has been up 4.9% over five years annualized…
Ann Sosnowski
Editor, Safe Haven Investor
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