MUB Breaks Dec 2010 Low, SEC Looking At Muni Bond Disclosures

On Friday, MUB, the National Municipal Bond ETF, took out the December 2010 low of $96.59 and closed at $96.26. Big red volume is making lower highs (not sure that means much or not), the RSI (relative strength index) is at 26.31 (it hit 10 in December) and the MACD is still in downtrend mode. See the chart after the jump. Last Wednesday Meredith Whitney gave an update on the muni market on CNBC.

According to Charlie Gasparino on Fox Business, the SEC is looking at muni bond disclosures.

"The Securities and Exchange Commission is ramping up its efforts to monitor disclosure problems in the municipal bond market, worried that cities issuing municipal debt are failing to properly disclose budget problems and other issues, thus affecting the price of bonds purchased by small investors, Fox Business has learned." [read more]

MUB (iShares S&P National Municipal Bond Fund)

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