I have a municipal bond portfolio that I am trying to hedge.Since the sub prime mess my municipal bonds have fallen in value.Also,I expect income tax rates to rise after Presidential election. Selling may not be the best option although I expect interest rates to rise.

I am considering some type of hedge.Does aybody have any info on the two new ETFs TBT and PST? Ryjux is an option but it has high expenses. At the money put purchases may not be a bad idea also.I would appreciate any ideas you have.

Thanks

tjudd