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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

 

January Rebound - Thursday, 01/31/2013

With the political ripples of the "cliff" and inauguration finally reaching the edge of the pond, the markets appear to be once again fully engaged in the dissection of domestic economic releases, earnings and European monetary drama. The elements that I believe sparked a year-end selloff have now receded, allowing municipals to push forward with a month-to-date gain of 0.62% as of January 25, 2013. New flows into municipals, along with cash from calls, maturities and coupon payments are again positive, overwhelming a meager January supply: a formula that is prevalent in most years, coined the "January Effect."

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Authored by James Colby

Got Credit? (Part 1) - Friday, 01/25/2013

One point which I believe is universally made regarding the municipal bond market is that the overall credit quality (the implied security) of the issues brought to the market not only underpins the attraction of municipals as an asset class, but separates it very distinctly from other fixed-income choices.

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Authored by James Colby

Alas, Poor Tax-Free Coupon, I Knew Thee Well... - Thursday, 01/17/2013

If there is one certainty that I believe municipal bond investors can lean upon as we fully commit to writing 2013 in our check registers, it is the seemingly perpetual uncertainty regarding the political deliberations about to resume in Washington, which again could include discussions about capping the benefit of the tax-free coupon. Ask yourself, "What has changed since the November elections?" and you'll probably answer, "Nothing." However, with the adjusted personal income tax rates now at higher levels, this statement is not entirely true; the market has been living with this cloud of uncertainty going on five months or more.

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Authored by James Colby

Muni Health Check 4Q’12 - Thursday, 01/10/2013

Watch my latest Video Viewpoint on:

  • Year-End Volatility
  • States & Municipalities
  • Measuring Impacts of Puerto Rico Downgrade
  • U.S. Fiscal Debate


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Authored by James Colby

No Cliff For Old Munis - Thursday, 01/03/2013

In the eleventh hour of the first night of 2013, Congress passed legislation which, among tax increases and other items, left the municipal bond coupon tax-free and unscathed. As you undoubtedly know by now, the bill provides for extensions of the Bush era tax cuts and credits and permanently "patches" the Alternative Minimum Tax (AMT) going forward.

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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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