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    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetailMember_lbl" xml:lang="en-US">Retail [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_S000011851Member_lbl" xml:lang="en-US">Thornburg Investment Income Builder Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ConvertibleDebtObligationRiskMember" xlink:label="tbit_ConvertibleDebtObligationRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_ConvertibleDebtObligationRiskMember_lbl" xml:lang="en-US">Convertible Debt Obligation Risk [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditRiskMember" xlink:to="us-gaap_CreditRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditRiskMember_lbl" xml:lang="en-US">Credit Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_CybersecurityAndOperationalRiskMember" xlink:label="tbit_CybersecurityAndOperationalRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_CybersecurityAndOperationalRiskMember" xlink:to="tbit_CybersecurityAndOperationalRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_CybersecurityAndOperationalRiskMember_lbl" xml:lang="en-US">Cybersecurity and Operational Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_DevelopingCountryRiskMember" xlink:label="tbit_DevelopingCountryRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_DevelopingCountryRiskMember" xlink:to="tbit_DevelopingCountryRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_DevelopingCountryRiskMember_lbl" xml:lang="en-US">Developing Country Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_EquityRiskMember" xlink:label="tbit_EquityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_EquityRiskMember" xlink:to="tbit_EquityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_EquityRiskMember_lbl" xml:lang="en-US">Equity Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ForeignCurrencyRiskMember" xlink:label="tbit_ForeignCurrencyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ForeignCurrencyRiskMember" xlink:to="tbit_ForeignCurrencyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_ForeignCurrencyRiskMember_lbl" xml:lang="en-US">Foreign Currency Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ForeignGovernmentObligationsRiskMember" xlink:label="tbit_ForeignGovernmentObligationsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ForeignGovernmentObligationsRiskMember" xlink:to="tbit_ForeignGovernmentObligationsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_ForeignGovernmentObligationsRiskMember_lbl" xml:lang="en-US">Foreign Government Obligations Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ForeignInvestmentRiskMember" xlink:label="tbit_ForeignInvestmentRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ForeignInvestmentRiskMember" xlink:to="tbit_ForeignInvestmentRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_ForeignInvestmentRiskMember_lbl" xml:lang="en-US">Foreign Investment Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_HighYieldRiskMember" xlink:label="tbit_HighYieldRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_HighYieldRiskMember_lbl" xml:lang="en-US">High Yield Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestRateRiskMember" xlink:label="us-gaap_InterestRateRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateRiskMember" xlink:to="us-gaap_InterestRateRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestRateRiskMember_lbl" xml:lang="en-US">Interest Rate Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_LiquidityRiskMember" xlink:label="tbit_LiquidityRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_LiquidityRiskMember" xlink:to="tbit_LiquidityRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_LiquidityRiskMember_lbl" xml:lang="en-US">Liquidity Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ManagementRiskMember" xlink:label="tbit_ManagementRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ManagementRiskMember" xlink:to="tbit_ManagementRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_ManagementRiskMember_lbl" xml:lang="en-US">Management Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MarketAndEconomicRiskMember" xlink:label="tbit_MarketAndEconomicRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MarketAndEconomicRiskMember" xlink:to="tbit_MarketAndEconomicRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_MarketAndEconomicRiskMember_lbl" xml:lang="en-US">Market and Economic Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_PrepaymentAndExtensionRiskMember" xlink:label="tbit_PrepaymentAndExtensionRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_PrepaymentAndExtensionRiskMember" xlink:to="tbit_PrepaymentAndExtensionRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_PrepaymentAndExtensionRiskMember_lbl" xml:lang="en-US">Prepayment and Extension Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_RealEstateRiskMember" xlink:label="tbit_RealEstateRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RealEstateRiskMember" xlink:to="tbit_RealEstateRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_RealEstateRiskMember_lbl" xml:lang="en-US">Real Estate Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_RedemptionRiskMember" xlink:label="tbit_RedemptionRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_RedemptionRiskMember_lbl" xml:lang="en-US">Redemption Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_RisksAffectingSpecificCountriesOrRegionsMember" xlink:label="tbit_RisksAffectingSpecificCountriesOrRegionsMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_RisksAffectingSpecificCountriesOrRegionsMember_lbl" xml:lang="en-US">Risks Affecting Specific Countries or Regions [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_RisksAffectingSpecificIssuersMember" xlink:label="tbit_RisksAffectingSpecificIssuersMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RisksAffectingSpecificIssuersMember" xlink:to="tbit_RisksAffectingSpecificIssuersMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_RisksAffectingSpecificIssuersMember_lbl" xml:lang="en-US">Risks Affecting Specific Issuers [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_SmallAndMidCapCompanyRiskMember" xlink:label="tbit_SmallAndMidCapCompanyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_SmallAndMidCapCompanyRiskMember" xlink:to="tbit_SmallAndMidCapCompanyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_SmallAndMidCapCompanyRiskMember_lbl" xml:lang="en-US">Small and Mid-Cap Company Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_USGovernmentObligationsRiskMember" xlink:label="tbit_USGovernmentObligationsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_USGovernmentObligationsRiskMember" xlink:to="tbit_USGovernmentObligationsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_USGovernmentObligationsRiskMember_lbl" xml:lang="en-US">U.S. Government Obligations Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000064930Member" xlink:label="tbit_S000064930Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000064930Member" xlink:to="tbit_S000064930Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_S000064930Member_lbl" xml:lang="en-US">Thornburg Summit Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_CommoditiesRelatedInvestmentRiskMember" xlink:label="tbit_CommoditiesRelatedInvestmentRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_CommoditiesRelatedInvestmentRiskMember" xlink:to="tbit_CommoditiesRelatedInvestmentRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_CommoditiesRelatedInvestmentRiskMember_lbl" xml:lang="en-US">Commodities-Related Investment Risk [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_DepositaryReceiptsRiskMember" xlink:to="tbit_DepositaryReceiptsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_DepositaryReceiptsRiskMember_lbl" xml:lang="en-US">Depositary Receipts Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_DerivativesRiskMember" xlink:label="tbit_DerivativesRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_DerivativesRiskMember_lbl" xml:lang="en-US">Derivatives Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_InflationRiskMember" xlink:label="tbit_InflationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_InflationRiskMember" xlink:to="tbit_InflationRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_InflationRiskMember_lbl" xml:lang="en-US">Inflation Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_StructuredProductsRiskMember" xlink:label="tbit_StructuredProductsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_StructuredProductsRiskMember" xlink:to="tbit_StructuredProductsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_StructuredProductsRiskMember_lbl" xml:lang="en-US">Structured Products Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember" xlink:label="tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember" xlink:to="tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember_lbl" xml:lang="en-US">Zero Coupon Bonds and Stripped Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032380Member" xlink:label="tbit_C000032380Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032380Member" xlink:to="tbit_C000032380Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_C000032380Member_lbl" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032381Member" xlink:label="tbit_C000032381Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032381Member" xlink:to="tbit_C000032381Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_C000032381Member_lbl" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032382Member" xlink:label="tbit_C000032382Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032382Member" xlink:to="tbit_C000032382Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_C000032382Member_lbl" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000177479Member" xlink:label="tbit_C000177479Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000177479Member" xlink:to="tbit_C000177479Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_C000177479Member_lbl" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000210187Member" xlink:label="tbit_C000210187Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000210187Member" xlink:to="tbit_C000210187Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_C000210187Member_lbl" xml:lang="en-US">Thornburg Summit Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000210188Member" xlink:label="tbit_C000210188Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000210188Member" xlink:to="tbit_C000210188Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_C000210188Member_lbl" xml:lang="en-US">Thornburg Summit Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIWorldNetTotalReturnUSDIndexMember" xlink:label="tbit_MSCIWorldNetTotalReturnUSDIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIWorldNetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIWorldNetTotalReturnUSDIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_MSCIWorldNetTotalReturnUSDIndexMember_lbl" xml:lang="en-US">MSCI World Net Total Return USD Index (reflects no deduction for fees, expenses, or U.S. taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember" xlink:label="tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember" xlink:to="tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember_lbl" xml:lang="en-US">Bloomberg U.S. Aggregate Total Return Index Value USD (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BlendedIndexMember" xlink:label="tbit_BlendedIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BlendedIndexMember" xlink:to="tbit_BlendedIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_BlendedIndexMember_lbl" xml:lang="en-US">Blended Index (reflects no deduction for fees, expenses, or U.S. taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember" xlink:label="tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember_lbl" xml:lang="en-US">MSCI All Country World Net Total Return USD Index (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember" xlink:label="tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember" xlink:to="tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember_lbl" xml:lang="en-US">Bloomberg Global-Aggregate Total Return Index Value Unhedged USD (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BlendedIndex1Member" xlink:label="tbit_BlendedIndex1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BlendedIndex1Member" xlink:to="tbit_BlendedIndex1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="tbit_BlendedIndex1Member_lbl" xml:lang="en-US">Blended Index (reflects no deduction for fees, expenses, or U.S. taxes) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000011843Member" xlink:label="tbit_S000011843Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011843Member" xlink:to="tbit_S000011843Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011843Member_doc" xml:lang="en-US">Thornburg New Mexico Intermediate Municipal Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032352Member" xlink:label="tbit_C000032352Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032352Member" xlink:to="tbit_C000032352Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032352Member_doc" xml:lang="en-US">Thornburg New Mexico Intermediate Municipal Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032353Member" xlink:label="tbit_C000032353Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032353Member" xlink:to="tbit_C000032353Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032353Member_doc" xml:lang="en-US">Thornburg New Mexico Intermediate Municipal Fund - Class D</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042667Member" xlink:label="tbit_C000042667Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042667Member" xlink:to="tbit_C000042667Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042667Member_doc" xml:lang="en-US">Thornburg New Mexico Intermediate Municipal Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000011848Member" xlink:label="tbit_S000011848Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011848Member" xlink:to="tbit_S000011848Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011848Member_doc" xml:lang="en-US">Thornburg New York Intermediate Municipal Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032368Member" xlink:label="tbit_C000032368Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032368Member" xlink:to="tbit_C000032368Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032368Member_doc" xml:lang="en-US">Thornburg New York Intermediate Municipal Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000083544Member" xlink:label="tbit_C000083544Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000083544Member" xlink:to="tbit_C000083544Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000083544Member_doc" xml:lang="en-US">Thornburg New York Intermediate Municipal Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000011849Member" xlink:label="tbit_S000011849Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011849Member" xlink:to="tbit_S000011849Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011849Member_doc" xml:lang="en-US">Thornburg International Equity Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032369Member" xlink:label="tbit_C000032369Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032369Member" xlink:to="tbit_C000032369Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032369Member_doc" xml:lang="en-US">Thornburg International Equity Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032371Member" xlink:label="tbit_C000032371Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032371Member" xlink:to="tbit_C000032371Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032371Member_doc" xml:lang="en-US">Thornburg International Equity Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032372Member" xlink:label="tbit_C000032372Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032372Member" xlink:to="tbit_C000032372Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032372Member_doc" xml:lang="en-US">Thornburg International Equity Fund - Class I</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011851Member" xlink:to="tbit_S000011851Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011851Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032380Member" xlink:to="tbit_C000032380Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032380Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class A</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032381Member" xlink:to="tbit_C000032381Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032381Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class C</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032382Member" xlink:to="tbit_C000032382Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032382Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000012859Member" xlink:label="tbit_S000012859Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000012859Member" xlink:to="tbit_S000012859Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000012859Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000034775Member" xlink:label="tbit_C000034775Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000034775Member" xlink:to="tbit_C000034775Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000034775Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000034776Member" xlink:label="tbit_C000034776Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000034776Member" xlink:to="tbit_C000034776Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000034776Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000034777Member" xlink:label="tbit_C000034777Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000034777Member" xlink:to="tbit_C000034777Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000034777Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000015648Member" xlink:label="tbit_S000015648Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000015648Member" xlink:to="tbit_S000015648Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000015648Member_doc" xml:lang="en-US">Thornburg International Growth Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042663Member" xlink:label="tbit_C000042663Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042663Member" xlink:to="tbit_C000042663Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042663Member_doc" xml:lang="en-US">Thornburg International Growth Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042664Member" xlink:label="tbit_C000042664Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042664Member" xlink:to="tbit_C000042664Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042664Member_doc" xml:lang="en-US">Thornburg International Growth Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042665Member" xlink:label="tbit_C000042665Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042665Member" xlink:to="tbit_C000042665Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042665Member_doc" xml:lang="en-US">Thornburg International Growth Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000020097Member" xlink:label="tbit_S000020097Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000020097Member" xlink:to="tbit_S000020097Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000020097Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000056389Member" xlink:label="tbit_C000056389Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000056389Member" xlink:to="tbit_C000056389Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000056389Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000056390Member" xlink:label="tbit_C000056390Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000056390Member" xlink:to="tbit_C000056390Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000056390Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000056391Member" xlink:label="tbit_C000056391Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000056391Member" xlink:to="tbit_C000056391Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000056391Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000025152Member" xlink:label="tbit_S000025152Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000025152Member" xlink:to="tbit_S000025152Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000025152Member_doc" xml:lang="en-US">Thornburg Strategic Municipal Income Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000075018Member" xlink:label="tbit_C000075018Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000075018Member" xlink:to="tbit_C000075018Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000075018Member_doc" xml:lang="en-US">Thornburg Strategic Municipal Income Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000075019Member" xlink:label="tbit_C000075019Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000075019Member" xlink:to="tbit_C000075019Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000075019Member_doc" xml:lang="en-US">Thornburg Strategic Municipal Income Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000075020Member" xlink:label="tbit_C000075020Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000075020Member" xlink:to="tbit_C000075020Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000075020Member_doc" xml:lang="en-US">Thornburg Strategic Municipal Income Fund Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000027135Member" xlink:label="tbit_S000027135Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000027135Member" xlink:to="tbit_S000027135Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000027135Member_doc" xml:lang="en-US">Thornburg Developing World Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000081859Member" xlink:label="tbit_C000081859Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000081859Member" xlink:to="tbit_C000081859Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000081859Member_doc" xml:lang="en-US">Thornburg Developing World Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000081860Member" xlink:label="tbit_C000081860Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000081860Member" xlink:to="tbit_C000081860Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000081860Member_doc" xml:lang="en-US">Thornburg Developing World Fund Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000081861Member" xlink:label="tbit_C000081861Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000081861Member" xlink:to="tbit_C000081861Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000081861Member_doc" xml:lang="en-US">Thornburg Developing World Fund Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000050704Member" xlink:label="tbit_S000050704Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000050704Member" xlink:to="tbit_S000050704Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000050704Member_doc" xml:lang="en-US">Thornburg Better World International Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000160136Member" xlink:label="tbit_C000160136Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000160136Member" xlink:to="tbit_C000160136Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000160136Member_doc" xml:lang="en-US">Thornburg Better World International Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000160137Member" xlink:label="tbit_C000160137Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000160137Member" xlink:to="tbit_C000160137Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000160137Member_doc" xml:lang="en-US">Thornburg Better World International Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000160138Member" xlink:label="tbit_C000160138Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000160138Member" xlink:to="tbit_C000160138Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000160138Member_doc" xml:lang="en-US">Thornburg Better World International Fund - Class I</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000064930Member" xlink:to="tbit_S000064930Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000064930Member_doc" xml:lang="en-US">Thornburg Summit Fund</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000210188Member" xlink:to="tbit_C000210188Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000210188Member_doc" xml:lang="en-US">Thornburg Summit Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032374Member" xlink:label="tbit_C000032374Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032374Member" xlink:to="tbit_C000032374Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032374Member_doc" xml:lang="en-US">Thornburg International Equity Fund - Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042671Member" xlink:label="tbit_C000042671Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042671Member" xlink:to="tbit_C000042671Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042671Member_doc" xml:lang="en-US">Thornburg International Equity Fund - Class R4</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042672Member" xlink:label="tbit_C000042672Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042672Member" xlink:to="tbit_C000042672Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042672Member_doc" xml:lang="en-US">Thornburg International Equity Fund - Class R3</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000113849Member" xlink:label="tbit_C000113849Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000113849Member" xlink:to="tbit_C000113849Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000113849Member_doc" xml:lang="en-US">Thornburg International Equity Fund - Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042675Member" xlink:label="tbit_C000042675Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042675Member" xlink:to="tbit_C000042675Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042675Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class R3</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000047041Member" xlink:label="tbit_C000047041Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000047041Member" xlink:to="tbit_C000047041Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000047041Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000058461Member" xlink:label="tbit_C000058461Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000058461Member" xlink:to="tbit_C000058461Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000058461Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class R4</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000177479Member" xlink:to="tbit_C000177479Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000177479Member_doc" xml:lang="en-US">Thornburg Investment Income Builder Fund - Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000058462Member" xlink:label="tbit_C000058462Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000058462Member" xlink:to="tbit_C000058462Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000058462Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund - Class R3</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000058463Member" xlink:label="tbit_C000058463Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000058463Member" xlink:to="tbit_C000058463Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000058463Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund - Class R4</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000058464Member" xlink:label="tbit_C000058464Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000058464Member" xlink:to="tbit_C000058464Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000058464Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund - Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000177480Member" xlink:label="tbit_C000177480Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000177480Member" xlink:to="tbit_C000177480Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000177480Member_doc" xml:lang="en-US">Thornburg Global Opportunities Fund - Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000058465Member" xlink:label="tbit_C000058465Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000058465Member" xlink:to="tbit_C000058465Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000058465Member_doc" xml:lang="en-US">Thornburg International Growth Fund - Class R3</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000058466Member" xlink:label="tbit_C000058466Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000058466Member" xlink:to="tbit_C000058466Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000058466Member_doc" xml:lang="en-US">Thornburg International Growth Fund - Class R4</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000058467Member" xlink:label="tbit_C000058467Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000058467Member" xlink:to="tbit_C000058467Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000058467Member_doc" xml:lang="en-US">Thornburg International Growth Fund - Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000123223Member" xlink:label="tbit_C000123223Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000123223Member" xlink:to="tbit_C000123223Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000123223Member_doc" xml:lang="en-US">Thornburg International Growth Fund - Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000113850Member" xlink:label="tbit_C000113850Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000113850Member" xlink:to="tbit_C000113850Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000113850Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund - Class R3</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000113851Member" xlink:label="tbit_C000113851Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000113851Member" xlink:to="tbit_C000113851Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000113851Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund - Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000136850Member" xlink:label="tbit_C000136850Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000136850Member" xlink:to="tbit_C000136850Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000136850Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund - Class R4</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000177481Member" xlink:label="tbit_C000177481Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000177481Member" xlink:to="tbit_C000177481Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000177481Member_doc" xml:lang="en-US">Thornburg Strategic Income Fund - Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000123224Member" xlink:label="tbit_C000123224Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000123224Member" xlink:to="tbit_C000123224Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000123224Member_doc" xml:lang="en-US">Thornburg Developing World Fund Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000123225Member" xlink:label="tbit_C000123225Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000123225Member" xlink:to="tbit_C000123225Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000123225Member_doc" xml:lang="en-US">Thornburg Developing World Fund Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_RetirementMember" xlink:label="tbit_RetirementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RetirementMember" xlink:to="tbit_RetirementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_RetirementMember_doc" xml:lang="en-US">Retirement</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000011842Member" xlink:label="tbit_S000011842Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011842Member" xlink:to="tbit_S000011842Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011842Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042666Member" xlink:label="tbit_C000042666Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042666Member" xlink:to="tbit_C000042666Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042666Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund - Class R3</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000136848Member" xlink:label="tbit_C000136848Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000136848Member" xlink:to="tbit_C000136848Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000136848Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund - Class R4</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000113847Member" xlink:label="tbit_C000113847Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000113847Member" xlink:to="tbit_C000113847Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000113847Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund - Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000011845Member" xlink:label="tbit_S000011845Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011845Member" xlink:to="tbit_S000011845Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011845Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000042668Member" xlink:label="tbit_C000042668Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000042668Member" xlink:to="tbit_C000042668Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000042668Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class R3</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000136849Member" xlink:label="tbit_C000136849Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000136849Member" xlink:to="tbit_C000136849Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000136849Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class R4</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000113848Member" xlink:label="tbit_C000113848Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000113848Member" xlink:to="tbit_C000113848Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000113848Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class R5</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000177478Member" xlink:label="tbit_C000177478Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000177478Member" xlink:to="tbit_C000177478Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000177478Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class R6</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BlendedIndexMember" xlink:to="tbit_BlendedIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BlendedIndexMember_doc" xml:lang="en-US">Blended Index (reflects no deduction for fees, expenses, or U.S. taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIEmergingMarketsNetTotalReturnUSDIndexMember" xlink:label="tbit_MSCIEmergingMarketsNetTotalReturnUSDIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIEmergingMarketsNetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIEmergingMarketsNetTotalReturnUSDIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIEmergingMarketsNetTotalReturnUSDIndexMember_doc" xml:lang="en-US">MSCI Emerging Markets Net Total Return USD Index</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000210187Member" xlink:to="tbit_C000210187Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000210187Member_doc" xml:lang="en-US">Thornburg Summit Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000001427Member" xlink:label="tbit_C000001427Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000001427Member" xlink:to="tbit_C000001427Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000001427Member_doc" xml:lang="en-US">Thornburg Limited Term Municipal Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000001438Member" xlink:label="tbit_C000001438Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000001438Member" xlink:to="tbit_C000001438Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000001438Member_doc" xml:lang="en-US">Thornburg Limited Term Municipal Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000001449Member" xlink:label="tbit_C000001449Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000001449Member" xlink:to="tbit_C000001449Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000001449Member_doc" xml:lang="en-US">Thornburg Limited Term Municipal Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032344Member" xlink:label="tbit_C000032344Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032344Member" xlink:to="tbit_C000032344Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032344Member_doc" xml:lang="en-US">Thornburg California Limited Term Municipal Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032345Member" xlink:label="tbit_C000032345Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032345Member" xlink:to="tbit_C000032345Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032345Member_doc" xml:lang="en-US">Thornburg California Limited Term Municipal Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032346Member" xlink:label="tbit_C000032346Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032346Member" xlink:to="tbit_C000032346Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032346Member_doc" xml:lang="en-US">Thornburg California Limited Term Municipal Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032347Member" xlink:label="tbit_C000032347Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032347Member" xlink:to="tbit_C000032347Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032347Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032349Member" xlink:label="tbit_C000032349Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032349Member" xlink:to="tbit_C000032349Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032349Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032350Member" xlink:label="tbit_C000032350Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032350Member" xlink:to="tbit_C000032350Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032350Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032354Member" xlink:label="tbit_C000032354Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032354Member" xlink:to="tbit_C000032354Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032354Member_doc" xml:lang="en-US">Thornburg Intermediate Municipal Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032355Member" xlink:label="tbit_C000032355Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032355Member" xlink:to="tbit_C000032355Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032355Member_doc" xml:lang="en-US">Thornburg Intermediate Municipal Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032356Member" xlink:label="tbit_C000032356Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032356Member" xlink:to="tbit_C000032356Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032356Member_doc" xml:lang="en-US">Thornburg Intermediate Municipal Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032357Member" xlink:label="tbit_C000032357Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032357Member" xlink:to="tbit_C000032357Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032357Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032358Member" xlink:label="tbit_C000032358Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032358Member" xlink:to="tbit_C000032358Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032358Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000032359Member" xlink:label="tbit_C000032359Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000032359Member" xlink:to="tbit_C000032359Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000032359Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000135383Member" xlink:label="tbit_C000135383Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000135383Member" xlink:to="tbit_C000135383Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000135383Member_doc" xml:lang="en-US">Thornburg Short Duration Municipal Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000135384Member" xlink:label="tbit_C000135384Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000135384Member" xlink:to="tbit_C000135384Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000135384Member_doc" xml:lang="en-US">Thornburg Short Duration Municipal Fund Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000135385Member" xlink:label="tbit_C000135385Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000135385Member" xlink:to="tbit_C000135385Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000135385Member_doc" xml:lang="en-US">Thornburg Ultra Short Income Fund Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000135386Member" xlink:label="tbit_C000135386Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000135386Member" xlink:to="tbit_C000135386Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000135386Member_doc" xml:lang="en-US">Thornburg Ultra Short Income Fund Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000222321Member" xlink:label="tbit_C000222321Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000222321Member" xlink:to="tbit_C000222321Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000222321Member_doc" xml:lang="en-US">Thornburg Limited Term Municipal Fund - Class C2</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000222322Member" xlink:label="tbit_C000222322Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000222322Member" xlink:to="tbit_C000222322Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000222322Member_doc" xml:lang="en-US">Thornburg California Limited Term Municipal Fund - Class C2</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000222323Member" xlink:label="tbit_C000222323Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000222323Member" xlink:to="tbit_C000222323Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000222323Member_doc" xml:lang="en-US">Thornburg Limited Term U.S. Government Fund - Class C2</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000222324Member" xlink:label="tbit_C000222324Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000222324Member" xlink:to="tbit_C000222324Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000222324Member_doc" xml:lang="en-US">Thornburg Intermediate Municipal Fund - Class C2</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000222325Member" xlink:label="tbit_C000222325Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000222325Member" xlink:to="tbit_C000222325Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000222325Member_doc" xml:lang="en-US">Thornburg Limited Term Income Fund - Class C2</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000000540Member" xlink:label="tbit_S000000540Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000000540Member" xlink:to="tbit_S000000540Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000000540Member_doc" xml:lang="en-US">Thornburg Limited Term Municipal Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000011841Member" xlink:label="tbit_S000011841Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011841Member" xlink:to="tbit_S000011841Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011841Member_doc" xml:lang="en-US">Thornburg California Limited Term Municipal Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000011844Member" xlink:label="tbit_S000011844Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000011844Member" xlink:to="tbit_S000011844Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000011844Member_doc" xml:lang="en-US">Thornburg Intermediate Municipal Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000043669Member" xlink:label="tbit_S000043669Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000043669Member" xlink:to="tbit_S000043669Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000043669Member_doc" xml:lang="en-US">Thornburg Short Duration Municipal Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000043670Member" xlink:label="tbit_S000043670Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000043670Member" xlink:to="tbit_S000043670Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000043670Member_doc" xml:lang="en-US">Thornburg Ultra Short Income Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ICEBofA1To10YearUSMunicipalSecuritiesIndexMember" xlink:label="tbit_ICEBofA1To10YearUSMunicipalSecuritiesIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ICEBofA1To10YearUSMunicipalSecuritiesIndexMember" xlink:to="tbit_ICEBofA1To10YearUSMunicipalSecuritiesIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ICEBofA1To10YearUSMunicipalSecuritiesIndexMember_doc" xml:lang="en-US">ICE BofA 1-10 Year U.S. Municipal Securities Index (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000082059Member" xlink:label="tbit_S000082059Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000082059Member" xlink:to="tbit_S000082059Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000082059Member_doc" xml:lang="en-US">Thornburg Core Plus Bond Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000245318Member" xlink:label="tbit_C000245318Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000245318Member" xlink:to="tbit_C000245318Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000245318Member_doc" xml:lang="en-US">Thornburg Core Plus Bond Fund - Class A</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000245320Member" xlink:label="tbit_C000245320Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000245320Member" xlink:to="tbit_C000245320Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000245320Member_doc" xml:lang="en-US">Thornburg Core Plus Bond Fund - Class C</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000245319Member" xlink:label="tbit_C000245319Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000245319Member" xlink:to="tbit_C000245319Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000245319Member_doc" xml:lang="en-US">Thornburg Core Plus Bond Fund - Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000245315Member" xlink:label="tbit_C000245315Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000245315Member" xlink:to="tbit_C000245315Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000245315Member_doc" xml:lang="en-US">Thornburg Core Plus Bond Fund - Class R6</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ManagedFundsMember" xlink:label="tbit_ManagedFundsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ManagedFundsMember" xlink:to="tbit_ManagedFundsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ManagedFundsMember_doc" xml:lang="en-US">Managed Funds</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000079975Member" xlink:label="tbit_S000079975Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000079975Member" xlink:to="tbit_S000079975Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000079975Member_doc" xml:lang="en-US">Thornburg Emerging Markets Managed Account Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000241472Member" xlink:label="tbit_C000241472Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000241472Member" xlink:to="tbit_C000241472Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000241472Member_doc" xml:lang="en-US">Thornburg Emerging Markets Managed Account Fund - Class SMA</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000079976Member" xlink:label="tbit_S000079976Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000079976Member" xlink:to="tbit_S000079976Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000079976Member_doc" xml:lang="en-US">Thornburg Municipal Managed Account Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000241473Member" xlink:label="tbit_C000241473Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000241473Member" xlink:to="tbit_C000241473Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000241473Member_doc" xml:lang="en-US">Thornburg Municipal Managed Account Fund - Class SMA</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_CybersecurityAndOperationalRiskMember" xlink:to="tbit_CybersecurityAndOperationalRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_CybersecurityAndOperationalRiskMember_doc" xml:lang="en-US">Cybersecurity and Operational Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_EmergingMarketsRiskMember" xlink:label="tbit_EmergingMarketsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_EmergingMarketsRiskMember" xlink:to="tbit_EmergingMarketsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_EmergingMarketsRiskMember_doc" xml:lang="en-US">Emerging Markets Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_EquityRiskMember" xlink:to="tbit_EquityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_EquityRiskMember_doc" xml:lang="en-US">Equity Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ForeignCurrencyRiskMember" xlink:to="tbit_ForeignCurrencyRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ForeignCurrencyRiskMember_doc" xml:lang="en-US">Foreign Currency Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ForeignInvestmentRiskMember" xlink:to="tbit_ForeignInvestmentRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ForeignInvestmentRiskMember_doc" xml:lang="en-US">Foreign Investment Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_LiquidityRiskMember" xlink:to="tbit_LiquidityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_LiquidityRiskMember_doc" xml:lang="en-US">Liquidity Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ManagementRiskMember" xlink:to="tbit_ManagementRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ManagementRiskMember_doc" xml:lang="en-US">Management Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MarketAndEconomicRiskMember" xlink:to="tbit_MarketAndEconomicRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MarketAndEconomicRiskMember_doc" xml:lang="en-US">Market and Economic Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RedemptionRiskMember" xlink:to="tbit_RedemptionRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_RedemptionRiskMember_doc" xml:lang="en-US">Redemption Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RisksAffectingSpecificCountriesOrRegionsMember" xlink:to="tbit_RisksAffectingSpecificCountriesOrRegionsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_RisksAffectingSpecificCountriesOrRegionsMember_doc" xml:lang="en-US">Risks Affecting Specific Countries or Regions.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RisksAffectingSpecificIssuersMember" xlink:to="tbit_RisksAffectingSpecificIssuersMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_RisksAffectingSpecificIssuersMember_doc" xml:lang="en-US">Risks Affecting Specific Issuers.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_SmallAndMidCapCompanyRiskMember" xlink:to="tbit_SmallAndMidCapCompanyRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_SmallAndMidCapCompanyRiskMember_doc" xml:lang="en-US">Small and Mid-Cap Company Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_HighYieldRiskMember" xlink:to="tbit_HighYieldRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_HighYieldRiskMember_doc" xml:lang="en-US">High Yield Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_TaxRiskMember" xlink:label="tbit_TaxRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_TaxRiskMember" xlink:to="tbit_TaxRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_TaxRiskMember_doc" xml:lang="en-US">Tax Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_DevelopingCountryRiskMember" xlink:to="tbit_DevelopingCountryRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_DevelopingCountryRiskMember_doc" xml:lang="en-US">Developing Country Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RealEstateRiskMember" xlink:to="tbit_RealEstateRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_RealEstateRiskMember_doc" xml:lang="en-US">Real Estate Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ESGInvestingRiskMember" xlink:label="tbit_ESGInvestingRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ESGInvestingRiskMember" xlink:to="tbit_ESGInvestingRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ESGInvestingRiskMember_doc" xml:lang="en-US">ESG Investing Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_InformationTechnologySecuritiesRiskMember" xlink:label="tbit_InformationTechnologySecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_InformationTechnologySecuritiesRiskMember" xlink:to="tbit_InformationTechnologySecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_InformationTechnologySecuritiesRiskMember_doc" xml:lang="en-US">Information Technology Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_PrepaymentAndExtensionRiskMember" xlink:to="tbit_PrepaymentAndExtensionRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_PrepaymentAndExtensionRiskMember_doc" xml:lang="en-US">Prepayment and Extension Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_CommoditiesRelatedInvestmentRiskMember" xlink:to="tbit_CommoditiesRelatedInvestmentRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_CommoditiesRelatedInvestmentRiskMember_doc" xml:lang="en-US">Commodities-Related Investment Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_DerivativesRiskMember" xlink:to="tbit_DerivativesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_DerivativesRiskMember_doc" xml:lang="en-US">Derivatives Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_InflationRiskMember" xlink:to="tbit_InflationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_InflationRiskMember_doc" xml:lang="en-US">Inflation Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_StructuredProductsRiskMember" xlink:to="tbit_StructuredProductsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_StructuredProductsRiskMember_doc" xml:lang="en-US">Structured Products Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_SingleStateRiskMember" xlink:label="tbit_SingleStateRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_SingleStateRiskMember" xlink:to="tbit_SingleStateRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_SingleStateRiskMember_doc" xml:lang="en-US">Single State Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIWorldNetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIWorldNetTotalReturnUSDIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIWorldNetTotalReturnUSDIndexMember_doc" xml:lang="en-US">MSCI World Net Total Return USD Index (reflects no deduction for fees, expenses, or U.S. taxes)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember" xlink:to="tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BloombergUSAggregateTotalReturnIndexValueUSDMember_doc" xml:lang="en-US">Bloomberg U.S. Aggregate Total Return Index Value USD (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember" xlink:to="tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BloombergGlobalAggregateTotalReturnIndexValueUnhedgedUSDMember_doc" xml:lang="en-US">Bloomberg Global-Aggregate Total Return Index Value Unhedged USD (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ICEBofAUSMunicipalSecuritiesIndexMember" xlink:label="tbit_ICEBofAUSMunicipalSecuritiesIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ICEBofAUSMunicipalSecuritiesIndexMember" xlink:to="tbit_ICEBofAUSMunicipalSecuritiesIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ICEBofAUSMunicipalSecuritiesIndexMember_doc" xml:lang="en-US">ICE BofA U.S. Municipal Securities Index (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIAllCountryWorldExUSIndexMember" xlink:label="tbit_MSCIAllCountryWorldExUSIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIAllCountryWorldExUSIndexMember" xlink:to="tbit_MSCIAllCountryWorldExUSIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIAllCountryWorldExUSIndexMember_doc" xml:lang="en-US">MSCI All Country World ex-U.S. Index (reflects no deduction for fees, expenses, or U.S. taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIAllCountryWorldExUSANetTotalReturnMember" xlink:label="tbit_MSCIAllCountryWorldExUSANetTotalReturnMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIAllCountryWorldExUSANetTotalReturnMember" xlink:to="tbit_MSCIAllCountryWorldExUSANetTotalReturnMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIAllCountryWorldExUSANetTotalReturnMember_doc" xml:lang="en-US">MSCI All Country World ex USA Net Total Return (reflects no deduction for fees, expenses, or U.S. taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIAllCountryWorldExUSGrowthNetTotalReturnUSDIndexMember" xlink:label="tbit_MSCIAllCountryWorldExUSGrowthNetTotalReturnUSDIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIAllCountryWorldExUSGrowthNetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIAllCountryWorldExUSGrowthNetTotalReturnUSDIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIAllCountryWorldExUSGrowthNetTotalReturnUSDIndexMember_doc" xml:lang="en-US">MSCI All Country World ex U.S. Growth Net Total Return USD Index (reflects no deduction for fees, expenses, or U.S. taxes)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIAllCountryWorldNetTotalReturnUSDIndexMember_doc" xml:lang="en-US">MSCI All Country World Net Total Return USD Index (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_USGovernmentObligationsRiskMember" xlink:to="tbit_USGovernmentObligationsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_USGovernmentObligationsRiskMember_doc" xml:lang="en-US">U.S. Government Obligations Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember" xlink:to="tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ZeroCouponBondsAndStrippedSecuritiesRiskMember_doc" xml:lang="en-US">Zero Coupon Bonds and Stripped Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ForeignGovernmentObligationsRiskMember" xlink:to="tbit_ForeignGovernmentObligationsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ForeignGovernmentObligationsRiskMember_doc" xml:lang="en-US">Foreign Government Obligations Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_DepositaryReceiptsRiskMember" xlink:to="tbit_DepositaryReceiptsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_DepositaryReceiptsRiskMember_doc" xml:lang="en-US">Depositary Receipts Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_GrowthCompanyRiskMember" xlink:label="tbit_GrowthCompanyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_GrowthCompanyRiskMember" xlink:to="tbit_GrowthCompanyRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_GrowthCompanyRiskMember_doc" xml:lang="en-US">Growth Company Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ConvertibleDebtObligationRiskMember" xlink:to="tbit_ConvertibleDebtObligationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ConvertibleDebtObligationRiskMember_doc" xml:lang="en-US">Convertible Debt Obligation Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000091427Member" xlink:label="tbit_S000091427Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000091427Member" xlink:to="tbit_S000091427Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000091427Member_doc" xml:lang="en-US">Thornburg High Income Bond Managed Account Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_S000091428Member" xlink:label="tbit_S000091428Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_S000091428Member" xlink:to="tbit_S000091428Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_S000091428Member_doc" xml:lang="en-US">Thornburg Investment Grade Bond Managed Account Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000259092Member" xlink:label="tbit_C000259092Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000259092Member" xlink:to="tbit_C000259092Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000259092Member_doc" xml:lang="en-US">Thornburg High Income Bond Managed Account Fund - Class SMA</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_C000259093Member" xlink:label="tbit_C000259093Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_C000259093Member" xlink:to="tbit_C000259093Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_C000259093Member_doc" xml:lang="en-US">Thornburg Investment Grade Bond Managed Account Fund - Class SMA</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIAllCountryWorldexUSANetTotalReturnUSDIndexMember" xlink:label="tbit_MSCIAllCountryWorldexUSANetTotalReturnUSDIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIAllCountryWorldexUSANetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIAllCountryWorldexUSANetTotalReturnUSDIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIAllCountryWorldexUSANetTotalReturnUSDIndexMember_doc" xml:lang="en-US">MSCI All Country World ex USA Net Total Return USD Index (reflects no deduction for fees, expenses, or U.S. taxes).</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MSCIAllCountryWorldexUSAGrowthNetTotalReturnUSDIndexMember" xlink:label="tbit_MSCIAllCountryWorldexUSAGrowthNetTotalReturnUSDIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MSCIAllCountryWorldexUSAGrowthNetTotalReturnUSDIndexMember" xlink:to="tbit_MSCIAllCountryWorldexUSAGrowthNetTotalReturnUSDIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MSCIAllCountryWorldexUSAGrowthNetTotalReturnUSDIndexMember_doc" xml:lang="en-US">MSCI All Country World ex USA Growth Net Total Return USD Index (reflects no deduction for fees, expenses, or U.S. taxes).</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BloombergUSGovernmentIntermediateTotalReturnIndexValueUnhedgedMember" xlink:label="tbit_BloombergUSGovernmentIntermediateTotalReturnIndexValueUnhedgedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BloombergUSGovernmentIntermediateTotalReturnIndexValueUnhedgedMember" xlink:to="tbit_BloombergUSGovernmentIntermediateTotalReturnIndexValueUnhedgedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BloombergUSGovernmentIntermediateTotalReturnIndexValueUnhedgedMember_doc" xml:lang="en-US">Bloomberg U.S. Government Intermediate Total Return Index Value Unhedged (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BloombergIntermediateUSGovernmentCreditTotalReturnIndexValueUnhedgedMember" xlink:label="tbit_BloombergIntermediateUSGovernmentCreditTotalReturnIndexValueUnhedgedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BloombergIntermediateUSGovernmentCreditTotalReturnIndexValueUnhedgedMember" xlink:to="tbit_BloombergIntermediateUSGovernmentCreditTotalReturnIndexValueUnhedgedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BloombergIntermediateUSGovernmentCreditTotalReturnIndexValueUnhedgedMember_doc" xml:lang="en-US">Bloomberg Intermediate U.S. Government/Credit Total Return Index Value Unhedged (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BloombergUSUniversalTotalReturnIndexValueUnhedgedMember" xlink:label="tbit_BloombergUSUniversalTotalReturnIndexValueUnhedgedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BloombergUSUniversalTotalReturnIndexValueUnhedgedMember" xlink:to="tbit_BloombergUSUniversalTotalReturnIndexValueUnhedgedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BloombergUSUniversalTotalReturnIndexValueUnhedgedMember_doc" xml:lang="en-US">Bloomberg U.S. Universal Total Return Index Value Unhedged (reflects no deduction for fees, expenses, or taxes)</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ICEBofAUSTreasuryBillIndexMember" xlink:label="tbit_ICEBofAUSTreasuryBillIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ICEBofAUSTreasuryBillIndexMember" xlink:to="tbit_ICEBofAUSTreasuryBillIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ICEBofAUSTreasuryBillIndexMember_doc" xml:lang="en-US">ICE BofA U.S. Treasury Bill Index (reflects no deduction for fees, expenses, or taxes).</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ICEBofA1To3YearUSMunicipalSecuritiesIndexMember" xlink:label="tbit_ICEBofA1To3YearUSMunicipalSecuritiesIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ICEBofA1To3YearUSMunicipalSecuritiesIndexMember" xlink:to="tbit_ICEBofA1To3YearUSMunicipalSecuritiesIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ICEBofA1To3YearUSMunicipalSecuritiesIndexMember_doc" xml:lang="en-US">ICE BofA 1-3 Year U.S. Municipal Securities Index (reflects no deduction for fees, expenses, or taxes).</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ICEBofA3To15YearUSMunicipalSecuritiesIndexMember" xlink:label="tbit_ICEBofA3To15YearUSMunicipalSecuritiesIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ICEBofA3To15YearUSMunicipalSecuritiesIndexMember" xlink:to="tbit_ICEBofA3To15YearUSMunicipalSecuritiesIndexMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ICEBofA3To15YearUSMunicipalSecuritiesIndexMember_doc" xml:lang="en-US">ICE BofA 3-15 Year U.S. Municipal Securities Index (reflects no deduction for fees, expenses, or taxes).</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BlendedIndex1Member" xlink:to="tbit_BlendedIndex1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BlendedIndex1Member_doc" xml:lang="en-US">Blended Index (reflects no deduction for fees, expenses, or U.S. taxes).</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_BankLoansRiskMember" xlink:label="tbit_BankLoansRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_BankLoansRiskMember" xlink:to="tbit_BankLoansRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_BankLoansRiskMember_doc" xml:lang="en-US">Bank Loans Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_ForeignGovernmentObligationsRisksMember" xlink:label="tbit_ForeignGovernmentObligationsRisksMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_ForeignGovernmentObligationsRisksMember" xlink:to="tbit_ForeignGovernmentObligationsRisksMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_ForeignGovernmentObligationsRisksMember_doc" xml:lang="en-US">Foreign Government Obligations Risks.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_MarketCapitalizationRiskMember" xlink:label="tbit_MarketCapitalizationRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_MarketCapitalizationRiskMember" xlink:to="tbit_MarketCapitalizationRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_MarketCapitalizationRiskMember_doc" xml:lang="en-US">Market Capitalization Risk.</link:label>
      <link:loc xlink:type="locator" xlink:href="tbit-20260820.xsd#tbit_RisksAffectingMortgageBackedSecuritiesAndAssetBackedSecuritiesMember" xlink:label="tbit_RisksAffectingMortgageBackedSecuritiesAndAssetBackedSecuritiesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="tbit_RisksAffectingMortgageBackedSecuritiesAndAssetBackedSecuritiesMember" xlink:to="tbit_RisksAffectingMortgageBackedSecuritiesAndAssetBackedSecuritiesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="tbit_RisksAffectingMortgageBackedSecuritiesAndAssetBackedSecuritiesMember_doc" xml:lang="en-US">Risks Affecting Mortgage-Backed Securities and Asset-Backed Securities.</link:label>
    </link:labelLink>
</link:linkbase>
