S&P Dow Jones announces launch of two municipal high-yield indexes

By Tali David

Minneapolis, June 27 - S&P Dow Jones Indices LLC announced an expansion of its municipal bond index family with the launch of two new indexes, the S&P Short Duration Municipal Yield index and the S&P Intermediate Duration Municipal Yield index, according to a press release.

The indexes track both the investment-grade municipal bond market and the high-yield municipal bond market in ranges of one to 12 years maturity (short duration) and one to 17 years maturity (intermediate duration). The indexes have been licensed to Nuveen Investments for funds based upon the indexes, the release said.

"The S&P Short Duration and Intermediate Duration Municipal Yield indices are designed to provide short and intermediate duration perspectives on both the investment grade and high yield segments of the municipal bond market," JR Rieger, S&P vice president of fixed income indices, said in the release. "These indices will provide the market with an important and relevant measure of municipal bond performance."

S&P Dow Jones is part of New York-based McGraw-Hill Cos, a resource for index-based concepts, data and research.

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