creeps back toward three percent and people haul billions of dollars out of their bond funds, it seems fair to say that investors are less than thrilled with fixed income right now. At least with the most popular, traditional routes.
But according to John Miller, who heads up the tax-exempt bond team at Nuveen Asset Management, there are at least three key specialty plays in the tax-free sector right now. As we discuss in the attached video, they could not only change your results, but the way you think about munis.
1) Coastal Plays: California and New York
These east and west coast giants make Nuveen’s special situations list for a number of reasons, but none more than the sheer size and diversity of their respective economies; both of which Miller says are improving.
“There are a couple of different reasons why munis in California and New York have outperformed,” he says, noting their “very, very high (state) income tax rates” of up to twelve