BlackRock 2037 Municipal Target Term Trust

BlackRock 2037 Municipal Target Term Trust offers primarily tax-free income through a diversified muni bond portfolio. BMN's modest leverage with the Fed cutting rates puts the fund in a unique position to potentially start adding further leverage. Despite a lower distribution yield compared to some muni peers, BMN has much stronger distribution coverage, suggesting a more sustainable income stream.

BMN: Tax-Free Income With Capacity To Leverage Up

BlackRock 2037 Municipal Target Term Trust (BMN) launched at a favorable time, avoiding the municipal bond market slide caused by rising rates. BMN is a target term fund that aims to return its NAV back to shareholders by 2037, though there is never a guarantee that can happen. The fund has only more recently started to employ leverage, as they remained patient and waited for rates to stabilize it puts them in a more favorable situation.

BMN: Attractive Discount And Starting To Employ Leverage

IQ MacKay Municipal Insured ETF

IQ MacKay Municipal Intermediate ETF

Nuveen Quality Municipal Income Fund

Nuveen Municipal Income Fund Inc

We take a look at the municipal sector after a rollercoaster ride. We find that longer-duration munis remain attractive, particularly relative to corporate bonds. Separately, muni CEF discounts are wide and higher-quality bonds look best.

Municipal CEF Sector Update: What We're Doing After A Roller Coaster Ride

Ares Dynamic Credit Allocation Fund

Western Asset Mortgage Opportunity Fund

Nuveen Mortgage Opportunity Term Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Nuveen AMT-Free Municipal Value Fund

Flaherty & Crumrine Preferred Income OpportunityFund Inc

The price action in the CEF market over the last few months has been fast and furious. We revisit the key decision factors of income investing that can streamline and organize the allocation process as applied to CEFs.

Key Decision Factors For CEF Allocation In Today's Market

BlackRock 2037 Municipal Target Term Trust is a target term fund with the objective of returning $25 at its termination date in 2037. The BMN closed-end fund is a defensive Muni CEF option owing to its lack of leverage (subject to change), duration profile and term structure. BMN has a decent chance of hitting its $25 NAV target in 2037.

BMN: A Defensive 5% Yielding Muni CEF

BlackRock Innovation & Growth Trust

Blackrock ESG Capital Allocation Trust

Guggenheim Active Allocation Fund

MainStay CBRE Global Infrastructure Megatrends Fund

Pioneer Municipal High Income Opportunities Fund

Neuberger Berman Next Generation Connectivity Fund

Nuveen Core Plus Impact Fund

Nuveen Variable Rate Preferred & Income Fund

PIMCO Access Income Fund

PIMCO Dynamic Income Opportunities Fund

Pimco Municipal Income Fund

RiverNorth Flexible Mncpl Inm Fnd II Inc

Thornburg Income Builder Opportunities Trust

Western Asset Diversified Income Fund

In 2021, a dozen closed-end funds, or CEFs, were launched, but none of them performed well, with all of them experiencing negative total returns since inception. The CEFs trade at wide discounts to NAV, with an average discount of -12.5%, and offer high yield income with annual yields as high as 12.9%. The hybrid funds with global allocations and higher yielding taxable fixed income funds have performed better than municipal fixed income funds and equity funds.

The Dirty Dozen CEFs From 2021: A Summary

BlackRock Capital Allocation Trust

BlackRock Health Sciences Trust II

BlackRock Science and Technology Trust II

NEW YORK--(BUSINESS WIRE)--BlackRock today announced the release of quarterly fund commentaries for BlackRock Innovation and Growth Term Trust (NYSE: BIGZ), BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Capital Allocation Term Trust (NYSE: BCAT), BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), and BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) (the “Trusts”) for the second quarter of 2023. Use the links p.

BlackRock Announces Release of Commentaries for Certain Closed-End Funds (BIGZ, BSTZ, BMEZ, BCAT, ECAT, and BMN) and Private Investment Report

BlackRock 2037 Municipal Target Term Trust launched as a target term structure closed-end fund, a less common structure for the last several years. The public CEF IPO market has been quiet, with more focus on non-listed intervals and tender offer CEFs. BMN offers a portfolio of muni exposure, and they came to the market at a good time.

BMN: A Target Term Muni Fund Nearing Its First Anniversary

BlackRock Taxable Municipal Bond Trust

Blackrock Municipal Income Trust

Blackrock California Muni Income Trust

BlackRock Virginia Municipal Bond Trust

Blackrock Investment Quality Municipal Trust

Blackrock Municipal Income Trust II

Blackrock New York Municipal Income Trust

Blackrock Long-Term Municipal Advantage Trust

BlackRock Municipal 2030 Target Term Trust

BlackRock Municipal Income Quality Trust

BlackRock MuniHoldings Fund

BlackRock MuniHoldings New York Quality Fund Inc

BlackRock MuniYield Michigan Quality Fund Inc

BlackRock MuniYield Pennsylvania Quality Fund

BlackRock MuniYield Quality Fund II Inc

BlackRock MuniAssets Fund

BlackRock MuniHoldings California Quality Fund Inc

BlackRock MuniHoldings Quality Fund II Inc

BlackRock Municipal Income Fund

BlackRock MuniHoldings New Jersey Quality Fund Inc

BlackRock MuniVest Fund Inc

BlackRock MuniVest Fund II Inc

BlackRock MuniYield Fund

BlackRock MuniYield Quality Fund III Inc

Municipal Closed-End Funds: Near-Term Pain, Long-Term Gain?.

Municipal Closed-End Funds: Near-Term Pain, Long-Term Gain?

Apollo Senior Floating Rate Fund

Apollo Tactical Income Fund, Inc.

Morgan Stanley Emerging Markets Domestic Debt Fund Inc

Morgan Stanley Emerging Markets Debt Fund

We review CEF market valuation and performance through the fourth week of March and highlight recent market action. CEFs were relatively flat on the week; however, discounts continued to mostly push wider, offsetting NAV gains.

CEF Weekly Review: Should CEF Investors Pivot When The Fed Does?

NEW YORK--(BUSINESS WIRE)--BlackRock today announced the release of quarterly fund commentaries for BlackRock Innovation and Growth Trust (NYSE: BIGZ), BlackRock Science and Technology Trust II (NYSE: BSTZ), BlackRock Health Sciences Trust II (NYSE: BMEZ), BlackRock Capital Allocation Trust (NYSE: BCAT), BlackRock ESG Capital Allocation Trust (NYSE: ECAT), and BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) (the “Trusts”) for the fourth quarter of 2022.

BlackRock Announces Release of Fourth Quarter Commentaries for Certain Closed-End Funds (BIGZ, BSTZ, BMEZ, BCAT, ECAT, and BMN)

BlackRock Enhanced Government Fund

Eagle Point Income Company Inc

First Trust High Yld Oprtnts 2027 Tr Fn

Western Asset Global Corp Defined Opportunity Fund Inc

Miller/Howard High Income Equity Fund

Western Asset Investment Grade Defined Opportunity Trust

Nuveen Intermediate Duration Municipal Term Fund

Nuveen Multi-Asset Income Fund

RiverNorth Capital and Income Fund

Term funds have a few topics making them different that I hope to clear up with today's overview. Term funds can benefit shareholders as NAV is realized one way or another.

Closed-End Funds: Term Structure Potential Vs. Perpetual Funds

NEW YORK--( BUSINESS WIRE )--The Board of Trustees of BlackRock 2037 Municipal Target Term Trust (NYSE: BMN, CUSIP: 09262G108) (the “Trust”) announced today the Trust's initial monthly distribution, payable on February 1, 2023. Details are as follows:

BlackRock 2037 Municipal Target Term Trust Announces Initial Distribution

News for BlackRock 2037 Municipal Target Term Trust ETF (BMN)