State Street spins out more SPDRs

State Street Global Advisors of Boston today launched three new fixed-income exchange traded funds on the American Stock Exchange. The SPDR Lehman New York Municipal Bond ETF aims to track the Lehman Brothers Managed Money Municipal New York Index which follows New York municipal bonds. The SPDR Lehman California Municipal Bond ETF aims to track the Lehman Brothers Managed Money Municipal California Index which follows California municipal bonds. And the SPDR Lehman Short Term Municipal Bond ETF aims to track the Lehman Brothers Managed Money Municipal Short Term Index which follows muni bonds that cover the U.S. dollar denominated short- term tax exempt bond market.