The price of municipal bonds issued by American Airlines has rallied as much as 60% on the news of the impending merger with US Airways, providing a windfall for municipal bond fund managers. American Airlines muni bonds once traded for less than 20 cents on the dollar when the carrier entered bankruptcy protection but have now soared. Bonds issued on behalf of the airline in 1993, rose to $1.15 after a low of 16 cents, following the news the two airlines had settled the antitrust case with the US Department of Justice. Nuveen High-Yield Municipal Bond Fund has been a

This content is restricted to site members.

If you are an existing user, please login below.
New users may register below.

Existing Users Log In