BlackRock Taxable Municipal Bond Trust

BlackRock Taxable Municipal Bond Trust is a non-diversified and closed-end management investment company. Its primary investment objective is to seek high current income, with a secondary objective of capital appreciation. The trust seeks to achieve its investment objectives by investing primarily in a portfolio of taxable municipal securities known as Build America Bonds. The company was founded on August 27, 2010 and is headquartered in Wilmington, DE.

The BlackRock Taxable Municipal Bond Trust (BBN) aims for high current income and capital appreciation through taxable municipal bonds. I previously favored tax-exempt munis over BBN, but my outlook on this is shifting heading into 2025. BBN's discount to NAV has widened to above 7% since March, making it slightly cheaper despite modest positive returns.

BBN: I Believe This Fund Is In The 'Buy' Zone (Rating Upgrade)

NEW YORK--(BUSINESS WIRE)---- $BBN--Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below. Municipal Funds: Declaration- 11/1/2024 Ex-Date- 11/15/2024 Record- 11/15/2024 Payable- 12/2/2024 National Funds Ticker Distribution Change From Prior Distribution BlackRock Municipal Income Quality Trust* BYM $0.055500 - BlackRock Long-Term Municipal Advantage Trust* BTA $0.049500 - BlackRock MuniAssets Fund, Inc.* MUA $0.055500 - BlackRock Municipal Income Fund, Inc.* M.

Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds

BlackRock Capital Allocation Trust

BlackRock Resources & Commodities Strategy Trust

BlackRock Enhanced Equity Dividend Trust

BlackRock Energy and Resources Trust

BlackRock Enhanced International Dividend Trust

BlackRock Innovation & Growth Trust

Blackrock Health Sciences Trust

BlackRock Health Sciences Trust II

BlackRock Enhanced Global Dividend Trust

BlackRock Science & Technology

BlackRock Science and Technology Trust II

BlackRock Utilities Infrastructure & Power Opportunities Trust

BlackRock Enhanced Capital and Income Fund

Blackrock ESG Capital Allocation Trust

NEW YORK--(BUSINESS WIRE)---- $BBN--Today, BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock Enhanced International Dividend Trust (NYSE: BGY), BlackRock Health Sciences Trust (NYSE: BME), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Enhanced Global Dividend Trust (NYSE: BOE), BlackRock Utilities, Infrastructure & Power Opportunities Trust (NYSE: BUI), Bla.

Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

India Fund Inc

Nuveen New York AMT

PIMCO Corporate & Income Strategy Fund

PIMCO Dynamic Income Strategy Fund

Pimco High Income Fund

Cohen & Steers Select Preferred and Income Fund

TCW Strategic Income Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

Technology Select Sector SPDR Fund

Health Care Select Sector SPDR Fund

Taxable bond CEF space value shrinking as discounts tighten. Opportunities exist, especially following activists. Focus on top-down assessment, cheap sectors, and specific funds like Cohen & Steers Select Preferred and Income.

CEF Report | May 2024 | Activism Is Heating Up

BlackRock Taxable Municipal Bond Trust has not performed as well as expected, with returns not keeping up with cash. The high amount of leverage in BBN and lack of progress in inflation make a cautious "hold" rating more appropriate. The expected increase in new muni issuance and struggles in the commercial real estate market pose risks for the municipal bond market.

BBN: Inflation Is Persistent, Don't Get Carried Away With Leveraged Plays

Ares Capital

Ares Dynamic Credit Allocation Fund

AllianceBernstein Global High Income Fund Inc

Central Securities

Calamos Convertible Opportunities And Income Fund

DNP Select Income Fund Inc

Eaton Vance Enhanced Equity Income Fund II

Energy Transfer LP Unit

Flaherty & Crumrine Preferred Securities Income Fund Inc

Guggenheim Strategic Opportunities Fund

abrdn Healthcare Investors 

New American High Income Fund

Kayne Anderson MLP Investment

Main Street Capital

Barings Corporate Investors

Annaly Capital

Nuveen Municipal High Income Opportunity Fund

PIMCO Dynamic Income Fund

John Hancock Premium Dividend Fund

Cohen And Steers Total Return Realty Fund

Cohen & Steers Reit And Preferred Income Fund Inc

2023 year-end review of our 8% Income Portfolio. This high-income portfolio earned over $29,000 in distributions amounting to over 14% yield-on-cost basis and roughly 8.6% on average portfolio value. We will provide updates on trades during the year, dividends collected, and overall performance. As usual, we will compare the performance with a traditional 60:40 stock/bond portfolio.

The 8% Income Portfolio: 2023 Year-End Review

Blackrock Core Bond Trust

John Hancock Financial Opportunities Fund

Brandywine Global Income Opportunities Fund Inc

Virtus Stone Harbor Emerging Markets Income Fund 

abrdn Life Sciences Investors 

CBRE Global Real Estate Income Fund

Nuveen Build America Bond Fund

For the second consecutive month, both equity (+3.42% on a NAV basis) and fixed income (+3.14%) CEFs on average posted plus-side returns. At month end, 9% of all CEFs traded at a premium to their NAV, with 9% of equity CEFs and 8% of fixed income CEFs trading in premium territory. Developed Markets CEFs (+6.45%), for the second straight month, outpaced the other classifications in the equity CEF universe for December.

The Month In Closed-End Funds: December 2023

BlackRock Floating Rate Income Trust

Morgan Stanley China A Share Fund Inc

Blackrock Debt Strategies Fund Inc

Eaton Vance Municipal Income 2028 Term Trust

First Trust Mortgage Income Fund

Blackrock Floating Rate Income Strategies Fund Inc

Templeton Global Income Fund

Western Asset High Income Fund

Western Asset High Yield Defined Opportunity Fund Inc

Western Asset Investment Grade Defined Opportunity Trust

Nuveen Mortgage Opportunity Term Fund

Deutsche Municipal Income Trust

Morgan Stanley Emerging Markets Debt Fund

Nuveen Municipal Credit Opportunities Fund

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

PIMCO Access Income Fund

Putnam High Income Securities Fund

PIMCO Income Strategy Fund II

Franklin Templeton Emerging Markets Income Fund

Stocks were up slightly as the jobs report shifted the narrative towards 'higher for longer.' The payroll report came in stronger than expected, but the narrative was that it was a hawkish report, meaning higher rates for longer. Discounts for CEFs continue to tread water, with real estate and interest rate-sensitive bond sectors performing well, while emerging market equity and convertibles performed poorly.

CEF Weekly Commentary | December 10, 2023 | High Quality Opportunities

The BlackRock Taxable Municipal Bond Trust is a closed-end fund that invests in taxable municipal debt, offering income-seeking investors a different option to corporates. The BBN CEF's yield of 7.18% is lower than most fixed-income closed-end funds, but it offers the advantage of investing in municipal debt, which is generally considered less likely to default. The fund's recent performance has been impressive, outperforming the Bloomberg U.S. Aggregate Bond Index on a total return basis, but its use of leverage makes it more volatile.

BBN: Benefiting From A Market That Appears Too Optimistic About Rates

BlackRock Taxable Municipal Bond Trust has registered losses and the leverage headwind has not evened out. Higher short-term rates on highly leveraged funds remain a stubborn headwind, making a "buy" case difficult. The discount on BBN has widened to almost 8%, making it look cheap compared to its historical premium or small discount.

BBN: Investors Continue To Get Punished By Leverage

The high rate of inflation in the U.S. is causing the cost of living to rise significantly, putting financial strain on American consumers. Investors can consider purchasing shares of closed-end funds specializing in income generation to combat the rising costs. The BlackRock Taxable Municipal Bond Trust is one such CEF that offers a 7.05% yield and invests in municipal bonds, appealing to risk-averse investors.

BBN: The Security Of Municipals And A 7.05% Yield

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 2037 Municipal Target Term Trust

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?

BlackRock Taxable Municipal Bond Trust is trading at a sharp discount to NAV, along with one of its sister funds. Taxable munis appear safe, as state coffers have seen their "rainy day" funds grow over time.

BBN: Taxable Munis Continue To Present An Opportunity

AbbVie

Amgen

Clorox

Digital Realty Trust

iShares MSCI EAFE Growth ETF

iShares MSCI EAFE Value ETF

Fastenal

Home Depot

Johnson & Johnson

Kimberly-Clark

Lockheed Martin

McDonald's

Magellan Midstream Partners

Altria

NextEra Energy

Cohen & Steers Quality Income Realty Fund

iShares 1-3 Year Treasury Bond ETF

Proshares Short 20+ Year Treasury

abrdn World Healthcare Fund 

iShares 20+ Year Treasury Bond ETF

The stock market is inherently volatile. With the economy going through the boom and bust cycles more frequently, the extreme ups and downs of the market are inevitable. For most conservative investors, especially retirees, it's very difficult to tolerate large and deep drawdowns. However, it is almost impossible to avoid these issues with index investing.

The Near-Perfect Portfolio: Sleep Well During Turbulent Times

Stone Harbor Emerging Markets Total Income Fund

New Germany Fund

Gabelli Multimedia Trust

KKR Income Opportunities Fund

Mexico Equity & Income Fund Inc

Mexico Fund

Nuveen Core Plus Impact Fund

For the third month in four, equity CEFs (+5.60% on a NAV basis) on average witnessed positive performance. While their fixed income CEF cohorts (+4.08%) posted gains for the second month in three.

The Month In Closed-End Funds: January 2023

Angel Oak Financial Strategies Income Term Trust

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

Nuveen Quality Municipal Income Fund

We review closed-end fund market valuation and performance through the second week of January and highlight recent market action. CEFs continue to power ahead, stringing together two strong weeks in a row.

CEF Weekly Review: Key CEF Lessons Of 2022

Presenting our 2022 year-end review of our 8% Income Portfolio. This high-income portfolio earned over $29,000 in distributions (including year-end special distributions) amounting to over 14% yield-on-cost basis.

The 8% Income Portfolio: 2022 Year-End Review

Aberdeen Income Credit Strategies Fund

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

Central and Eastern Europe Fund

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

Credit Suisse High Yield Bond Fund

DoubleLine Yield Opportunities Fund

Eagle Point Income Company Inc

Eaton Vance National Municipal Opportunities Trust

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

John Hancock Preferred Income Fund

Ivy High Income Opportunities Fund

Nuveen Core Equity Alpha Fund

Macquarie Global Infrastructure Total Return Fund Inc

Pioneer Municipal High Income Opportunities Fund

Nuveen AMT-Free Municipal Credit Income Fund

Pimco California Municipal Income Fund II

PIMCO Dynamic Income Opportunities Fund

Pimco New York Municipal Income Fund

RiverNorth Flexible Muncpl Incme Fnd Inc

RiverNorth Opportunities Fund, Inc.

Cushing MLP & Infrastructure Total Return Fund

Delaware Investments

2 out of 23 CEF sectors positive on price and 4 out of 23 sectors positive on NAV last week. DEX will merge with AGD.

Weekly Closed-End Fund Roundup: DEX Will Merge With AGD, Tender Next January (December 11, 2022)

The BlackRock Taxable Municipal Bond Trust benchmarks against the Bloomberg Taxable Municipal Bond USD index. The Nuveen Taxable Municipal Income Fund benchmarks against the same benchmark. I wasn't able to find information on the benchmark, but not critical since both are actively managed.

BBN Vs. NBB: Comparing Taxable CEFs From Different Managers

First Trust Intermediate Duration Preferred & Income Fund

Nuveen Preferred & Income Term Fund

We review CEF market valuation and performance through the third week of November and highlight recent market action. The CEF market was fairly flat this week after a volatile few months with Muni sectors outperforming.

CEF Weekly Review: Gauging Portfolio Yields Remains Tricky At Best

Cornerstone Total Return Fund Inc

Doubleline Opportunistic Credit Fund

European Equity Fund

Eaton Vance Short Duration Diversified Income Fund

First Trust / Aberdeen Emerging Opportunity Fund

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust

16 out of 23 CEF sectors positive on price and 12 out of 23 sectors positive on NAV last week. Watch for overvalued CEFs as market volatility rises.

Weekly Closed-End Fund Roundup: Tortoise Tender Offers Expiring (October 23, 2022)

News for BlackRock Taxable Municipal Bond Trust ETF (BBN)