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"President Barack Obama's administration has set up a task force to try to find solutions for Puerto Rico, which lacks the legal means to declare bankruptcy."
I've said many times in the past that I would not touch an ETF or a closed end fund with a ten foot pole (regardless of its category) because of their volatility compared to the open end funds. What we have seen here recently is a good example. HYD has declined over 5% from its recent highs while some of its closed end brethren in high yield muniland have declined even more than that. Meanwhile in the real world where funds are priced on NAV, open end funds in that category haven't even declined 1% off their highs ala NHMRX.
Regardless, while this selloff may be much ado about nothing, I have sold off over 70% of NHMRX (new highs would get be fully invested again) and deployed a *very* small part of that in some equity funds ala DODWX and BEXFX as starter positions. An outside observer might well say, it looks like an equity top could be at hand when someone like myself who has been an avowed bondman since mid-December 2008 suddenly begins dabbling in equity funds
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Regardless, while this selloff may be much ado about nothing, I have sold off over 70% of NHMRX (new highs would get be fully invested again) and deployed a *very* small part of that in some equity funds ala DODWX and BEXFX as starter positions. An outside observer might well say, it looks like an equity top could be at hand when someone like myself who has been an avowed bondman since mid-December 2008 suddenly begins dabbling in equity funds