BABS: Build America Bond ETF From SPDR

American investors now have yet another way to loan their money to the government.  This time the conduit is SPDR Nuveen Barclays Capital Build America Bond ETF (BABS), which began trading Thursday (5/13/2010). BABS will be the second ETF to focus on this niche of the fixed-income market.  The other is PowerShares Build America Bond Portfolio (BAB).  Look for a lot of confusion between these similarly-named funds with almost identical ticker symbols.  Here is the difference: BABS is not BAB, BAB is not BABS, but both BAB and BABS contain BABs.  Clear enough? Do not fear, I can explain.  Build America Bonds, or BABs, are a new type of municipal bond authorized by the 2009 economic stimulus law.  They are issued by state and local governments in order to fund…
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