c56198_nq.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21037

Name of Fund: BlackRock New York Municipal Bond Trust (BQH)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock New York Municipal Bond Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2008

Date of reporting period: 09/01/2008 – 11/30/2008

 

Item 1 – Schedule of Investments


BlackRock New York Municipal Bond Trust  
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)
       
Par
     Municipal Bonds  
(000)
  
  
Value
New York - 131.7%  
Albany, New York, IDA, Civic Facility Revenue Bonds (New
         
   
Covenant Charter School Project), Series A, 7%, 5/01/25
$ 200   $ 137,498
 
Albany, New York, IDA, Civic Facility Revenue Bonds (New
          
   
Covenant Charter School Project), Series A, 7%, 5/01/35
  130     84,977
   
Dutchess County, New York, IDA, Civic Facility Revenue Bonds
         
   
(Vassar College Project), 5.35%, 8/01/11 (a)
  1,000     1,096,010
   
Dutchess County, New York, IDA, Civic Facility Revenue
         
   
Refunding Bonds (Bard College), Series A-2, 4.50%, 8/01/36
  500     359,350
   
Essex County, New York, IDA, Environmental Improvement
          
   
Revenue Bonds (International Paper Company Project), AMT,
          
   
Series A, 6.625%, 9/01/32
  100     71,917
   
Genesee County, New York, IDA, Civic Facility Revenue
         
   
Refunding Bonds (United Memorial Medical Center Project),
          
   
5%, 12/01/27
  150     94,963
   
Hudson Yards Infrastructure Corporation, New York, Revenue
          
   
Bonds, Series A, 4.50%, 2/15/47 (b)
  1,000     706,360
   
Hudson Yards Infrastructure Corporation, New York, Revenue
          
   
Bonds, Series A, 5%, 2/15/47 (c)
  500     382,265
   
Metropolitan Transportation Authority, New York, Revenue
          
   
Bonds, Series C, 6.50%, 11/15/28
  500     520,050
   
Metropolitan Transportation Authority, New York, Revenue
          
   
Refunding Bonds, Series A, 5.125%, 11/15/31
  3,000     2,637,720
   
New York City, New York, City Health and Hospital
         
   
Corporation, Health System Revenue Bonds,
         
   
Series A, 5.375%, 2/15/26
  1,100     984,335
   
New York City, New York, City Housing Development
         
   
Corporation, M/F Housing Revenue Bonds, AMT, Series A,
          
   
5.50%, 11/01/34
  2,500     2,049,025
   
New York City, New York, City IDA, PILOT Revenue Bonds
          
   
(Queens Baseball Stadium Project), 5%, 1/01/39 (d)
  250     187,815
   
New York City, New York, City IDA, PILOT Revenue Bonds
          
   
(Queens Baseball Stadium Project), 5%, 1/01/46 (d)
  150     109,260
   
New York City, New York, City IDA, PILOT Revenue Bonds
          
   
(Yankee Stadium Project), 5%, 3/01/46 (c)
  500     361,510
   
New York City, New York, City IDA, Special Facility Revenue
          
   
Bonds (American Airlines, Inc. - JFK International Airport),
          
   
AMT, 7.625%, 8/01/25
  750     526,987
 
Portfolio Abbreviations

To simplify the listings of the portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the list below.
         
AMT   Alternative Minimum Tax (subject to)   M/F   Multi-Family
GO   General Obligation Bonds   PILOT   Payment in Lieu of Taxes
IDA   Industrial Development Authority   TFABS   Tobacco Flexible Amortization Bonds
IDR   Industrial Development Revenue Bonds        

1

BlackRock New York Municipal Bond Trust  
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)
 
 
Par
 
Municipal Bonds
 
(000)
   
Value
New York City, New York, City IDA, Special Facility Revenue
          
Bonds (Continental Airlines, Inc. Project), AMT,          
 
7.75%, 8/01/31
$ 1,000   $ 686,610
New York City, New York, City Municipal Water Finance          
Authority, Second General Resolution, Water and Sewer System          
Revenue Bonds, Series AA, 4.50%, 6/15/37 (b)   250     200,377
New York City, New York, City Municipal Water Finance          
Authority, Water and Sewer System Revenue Bonds, Series A,          
 
5.25%, 6/15/11 (a)(c)
  2,500     2,700,450
New York City, New York, City Municipal Water Finance          
Authority, Water and Sewer System Revenue Bonds, Series A,          
 
4.25%, 6/15/33
  250     195,285
New York City, New York, City Municipal Water Finance          
Authority, Water and Sewer System Revenue Bonds, Series A,          
 
5.75%, 6/15/40
  100     100,310
New York City, New York, City Transitional Finance          
Authority, Building Aid Revenue Refunding Bonds,          
 
Series S-1, 4.50%, 1/15/38
  250     191,775
New York City, New York, GO, Series D, 5.375%, 6/01/32   2,040     1,899,832
New York City, New York, IDA, Civic Facility Revenue Bonds
          
(Lycee Francais de New York Project), Series A,          
 
5.50%, 6/01/15 (e)
  250     239,865
New York Convention Center Development Corporation,          
New York, Revenue Bonds (Hotel Unit Fee Secured),          
 
5%, 11/15/44 (d)
  1,000     812,440
 
New York Counties Tobacco Trust III, Tobacco Settlement Pass-
         
 
Through Bonds, 6%, 6/01/43
  1,445     1,166,158
New York Liberty Development Corporation Revenue Bonds
          
(National Sports Museum Project), Series A,
          
 
6.125%, 2/15/19 (f)(g)
  385     45,969
New York State Dormitory Authority, Consolidated Fourth
          
General Resolution Revenue Bonds (City University System),
          
 
Series A, 5.25%, 7/01/11 (a)
  2,215     2,395,899
New York State Dormitory Authority, Non-State Supported
          
Debt, Lease Revenue Bonds (Municipal Health Facilities
          
Improvement Program), Sub-Series 2-4, 4.75%, 1/15/30
   500     427,805
New York State Dormitory Authority, Non-State Supported
          
Debt Revenue Bonds (Manhattan College), Series B,
          
 
5.30%, 7/01/37 (h)
  200     160,068
New York State Dormitory Authority, Non-State Supported Debt
          
Revenue Bonds (New York University Hospitals Center), Series
          
 
B, 5.625%, 7/01/37
  260     184,933
New York State Dormitory Authority, Non-State Supported Debt
          
Revenue Bonds (Rochester Institute of Technology), Series A,
          
 
6%, 7/01/33
  325     317,632
New York State Dormitory Authority, Non-State Supported
          
Debt, Revenue Refunding Bonds (Mount Sinai School of
          
Medicine of New York University), 5%, 7/01/35 (b)
   150     126,513

2

BlackRock New York Municipal Bond Trust
 
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)
 
 
Par
 
Municipal Bonds
 
(000)
  
Value
 
New York State Dormitory Authority, Non-State Supported
        
 
Debt, Revenue Refunding Bonds (School Districts Financing
        
 
Program), Series B, 5%, 4/01/36 (i)
$ 500  
$
 446,070
 
New York State Dormitory Authority Revenue Bonds (Iona
        
 
College), 5.125%, 7/01/32 (j)
  2,500   2,018,675
 
New York State Dormitory Authority Revenue Bonds (Willow
        
 
Towers, Inc. Project), 5.40%, 2/01/34 (k)
  2,500   2,370,775
 
New York State Dormitory Authority, State Personal Income Tax
       
 
Revenue Bonds (Education), Series B, 5.75%, 3/15/36
  300   302,757
 
New York State Dormitory Authority, State Personal Income Tax
       
 
Revenue Bonds (Education), Series B, 5.25%, 3/15/38
  250   236,080
 
New York State Dormitory Authority, State Supported
       
 
Debt Revenue Bonds (Mental Health Services
       
 
Facilities), Series B, 5%, 2/15/33 (i)
  350   312,532
 
New York State Environmental Facilities Corporation, State
        
 
Clean Water and Drinking Revenue Refunding Bonds (New York
       
 
City Water Project), Series D, 5.125%, 6/15/31
  2,750   2,638,158
 
New York State Urban Development Corporation, Personal
        
 
Income Tax Revenue Bonds, Series A, 5.25%, 3/15/12 (a)
  5,000   5,490,850
 
New York State Urban Development Corporation, Personal
        
 
Income Tax Revenue Bonds, Series B, 5%, 3/15/37
  1,000   917,870
 
Port Authority of New York and New Jersey, Consolidated
        
 
Revenue Bonds, AMT, 126th Series, 5.25%, 5/15/37 (b)(c)
  2,750   2,204,923
 
Port Authority of New York and New Jersey, Special Obligation
       
 
Revenue Bonds (Continental Airlines, Inc. - LaGuardia Project),
       
 
AMT, 9.125%, 12/01/15
  2,340   2,343,159
 
Rensselaer County, New York, IDA, Civic Facility Revenue Bonds
       
 
(Rensselaer Polytechnic Institute), 5%, 3/01/36
  1,000   856,990
 
Saratoga County, New York, IDA, Civic Facility Revenue Bonds
       
 
(The Saratoga Hospital Project), Series B, 5.25%, 12/01/32
  200   146,736
 
Suffolk County, New York, IDA, Continuing Care and
       
 
Retirement, Revenue Refunding Bonds (Jeffersons Ferry
       
 
Project), 5%, 11/01/28
  260   183,513
 
Suffolk County, New York, IDA, IDR (Keyspan-Port Jefferson),
        
 
AMT, 5.25%, 6/01/27
  500   385,085
 
TSASC, Inc., New York, TFABS, Series 1, 5.75%, 7/15/12 (a)
  2,000   2,237,020
   
       45,253,156
Multi-State - 8.0%
Charter Mac Equity Issuer Trust, 7.20%, 10/31/52 (l)(m)
  2,500   2,746,975
Guam - 0.4%
Guam Economic Development and Commerce Authority,
       
 
Tobacco Settlement Asset-Backed Revenue Refunding Bonds,
        
 
5.625%, 6/01/47
  200   140,894
Puerto Rico - 16.5%
Children's Trust Fund Project of Puerto Rico, Tobacco
       
 
Settlement Revenue Refunding Bonds, 5.625%, 5/15/43
  500   357,535
 
Puerto Rico Commonwealth Highway and Transportation
       
 
Authority, Transportation Revenue Refunding Bonds, Series D,
       
 
5.25%, 7/01/12 (a)
  750   812,618

3

BlackRock New York Municipal Bond Trust  
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)
   
  Par        
   
Municipal Bonds
  (000)     Value  
   
Puerto Rico Commonwealth Infrastructure Financing Authority,
           
   
Special Tax and Capital Appreciation Revenue Bonds, Series A,
           
   
4.34%, 7/01/37 (d)(n)
$ 2,000   $ 238,940  
   
Puerto Rico Commonwealth Infrastructure Financing Authority,
           
   
Special Tax and Capital Appreciation Revenue Bonds, Series A,
           
   
5.009%, 7/01/44 (d)(n)
  2,000     141,500  
   
Puerto Rico Commonwealth, Public Improvement, GO, Series A,
       
   
5.125%, 7/01/31
  1,825     1,395,340  
   
Puerto Rico Public Buildings Authority, Government Facilities
            
   
Revenue Refunding Bonds, Series D, 5.25%, 7/01/12 (a)
  1,980     2,141,786  
   
Puerto Rico Public Buildings Authority, Government Facilities
            
   
Revenue Refunding Bonds, Series D, 5.25%, 7/01/27
  720     585,533  
     
         5,673,252  
   
Total Municipal Bonds - 156.6%
        53,814,277  
   
Municipal Bonds Transferred to
           
   
Tender Option Bond Trusts (o)
     
New York - 6.3%  
New York State Mortgage Agency Revenue Bonds,
           
   
AMT, Series 101, 5.40%, 4/01/32
  2,639     2,174,473  
   
Total Municipal Bonds Transferred to
           
   
Tender Option Bond Trusts - 6.3%
  2,639     2,174,473  
   
Total Long-Term Investments
           
   
(Cost - $60,955,741) -162.9%
        55,988,750  
   
Short-Term Securities
  Shares        
   
CMA New York Municipal Money Fund, 0.69% (p)(q)
  1,133,671     1,133,671  
   
Total Short-Term Securities
     
   
(Cost - $1,133,671) - 3.3%
        1,133,671  
   
Total Investments (Cost - $62,089,412*) - 166.2%
        57,122,421  
   
Other Assets Less Liabilities - 2.8%
        965,688  
   
Liability for Trust Certificates, Including Interest
           
   
Expense and Fees Payable - (3.8)%
        (1,323,047 )
   
Preferred Shares, at Redemption Value - (65.2)%
        (22,405,560 )
   
Net Assets Applicable to Common Shares - 100.0%
      $ 34,359,502  

*     

The cost and unrealized appreciation (depreciation) of investments as of November 30, 2008, as computed for federal income tax purposes, were as follows:
 
  Aggregate cost   $ 60,678,682    
  Gross unrealized appreciation   $ 1,901,199    
  Gross unrealized depreciation     (6,776,203 )  
  Net unrealized depreciation   $ (4,875,004 )  

(a)

U.S. government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.
 
(b)

MBIA Insured.
 
(c)

FGIC Insured.
 
(d)

AMBAC Insured.
 
(e)

ACA Insured.
 
(f)

Non-income producing security.
 

4

BlackRock New York Municipal Bond Trust  
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)

(g)     

Issuer filed for bankruptcy and/or is in default of interest payments.
 
(h)     

Radian Insured.
 
(i)     

FSA Insured.
 
(j)     

XL Capital Insured.
 
(k)     

GNMA Collateralized.
 
(l)     

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.
 
(m)     

Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated maturity, and is subject to mandatory redemption at maturity.
 
(n)     

Represents a zero-coupon bond. Rate shown reflects the effective yield at time of purchase.
 
(o)     

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.
 
(p)     

Represents the current yield as of report date.
 
(q)     

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
 
    Net        
Affiliate   Activity       Income
CMA New York Municipal Money Fund   5,077   $   268

  • Effective September 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows:
     
     

  • Level 1 - price quotations in active markets/exchanges for identical securities
     
     

  • Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs)
     
     

  • Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent observable inputs are not available (including the Trust's own assumption used in determining the fair value of investments)
     
     

    The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust's policy regarding valuation of investments and other significant accounting policies, please refer to the Trust's most recent financial statements as contained in its annual report.
     

    The following table summarizes the inputs used as of November 30, 2008 in determining the fair valuation of the Trust's investments:

      Valuation    
    Investments in
      Inputs    
    Securities
      Level 1   $ 1,133,671
      Level 2     55,988,750
      Level 3     -
      Total   $ 57,122,421

    5


    Item 2 –    Controls and Procedures
       
    2(a) – The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
       
    2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
       
    Item 3 – Exhibits

    Certifications – Attached hereto

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

    BlackRock New York Municipal Bond Trust

    By:     /s/ Donald C. Burke  
      Donald C. Burke
      Chief Executive Officer of
      BlackRock New York Municipal Bond Trust
     
    Date: January 20, 2009

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

    By:     /s/ Donald C. Burke  
      Donald C. Burke
      Chief Executive Officer (principal executive officer) of
      BlackRock New York Municipal Bond Trust
     
    Date: January 20, 2009
     
    By: /s/ Neal J. Andrews  
      Neal J. Andrews
      Chief Financial Officer (principal financial officer) of
      BlackRock New York Municipal Bond Trust
     
    Date: January 20, 2009