Tax free municipal bonds will shine in 2014 after last year's tough
performance as higher tax rates spur demand and overall supply shrinks,
says the Robert DiMella, Portfolio Manager for the MainStay Tax Free
Bond Fund. DiMella says the problems in Puerto Rico and Detroit will
not hurt the overall muni market nor will competition from rising
Treasury yields. As for his portfolio, DiMella is a fan of local
general obligation bonds as smaller municipalities feel the wealth
effect from an improving economy.
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