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Others are probably more expert than me, but I think short term munis should be fine (as long as they are checked out, which Vanguard does).
Personally I am leery of anything beyond short term right now in bonds as interest rates are bound to rise eventually. However it does depend a bit on how you're using the fund too...if its a long term holding and you're dollar cost averaging into it, than I wouldn't worry.
As I said, I am not the world's foremost expert so I'd be interested in hearing from others.
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Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
I'm keeping my VG TE muni bond stakes right where they are at.
As a side note, the emergence of the BAB bonds (not TE) has created a lot of activity in the muni bond arena. IRS Issues Guidance on New Build America Bonds
I have not seen any good articles about the effect of the issuance of the new BAB bonds on the traditional TE muni bonds.
I checked with VG to see if BABs would be acquired in any of their TE bond funds, and the answer was a definite NO.
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