Indiscriminate Selling by holders of closed-end municipal bond funds has sent yields soaring, making this a good time to pick up some bargains, in the view of some analysts.

"A lot of them look very cheap right now," said Mariana Bush, a closed-end fund analyst at Kemper Securities. In a new report, Bush and Kemper analyst Sonia Vora noted that some leveraged municipal funds are yielding more than 8%.

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