CMFiShares California Muni Bond ETF
The schedule
- Fri18Sep
The September Fed meeting and dot plot refresh will likely be the key event for the 10–20 year part of the curve; a clearer path to rate cuts and anchored inflation could push CMF up toward $59.00, while a higher-for-longer signal or upward shift in terminal rate expectations could send it back toward $59.00.
- Thu15Oct
As investors gain clarity on year-end federal and state tax policy under President Trump’s administration, demand for tax-exempt California munis could strengthen CMF toward $59.50 if the tax-exempt status remains untouched and high-income tax rates stay elevated, or weaken it toward $59.50 if proposals emerge that reduce the relative value of munis.
- Tue15Dec
Into year-end, asset managers and advisors typically rebalance duration and credit exposure in tax-exempt portfolios; strong demand for high-grade, long-duration California paper could keep CMF bid toward $59.90, while selling pressure from profit-taking or tax-loss swaps in weaker credits could drag it back toward $59.90.
Past
- Sat1Aug
Passage of the California FY26 budget and any updates from the major rating agencies on the state’s credit profile could lift CMF toward $58.30 if tax receipts and reserves look solid, or push it down toward $58.30 if deficits, pension pressures, or revenue softness trigger negative outlooks.
- Fri12Jun
June Fed communication on the policy path and any shift in the Treasury curve will directly reprice longer-duration California muni yields, driving CMF toward either $57.9 on a benign or slightly dovish outcome or $56.4 if the market prices in fewer cuts and higher real yields.
