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NVG - What California's Turnaround Means For The Muni Market
Nuveen AMT-Free Municipal Credit Income Fund
By Cooper J Howard
California's finances were a mess following the 2008 credit crisis, but that's no longer the case. The turnaround in the Golden State has resulted in higher credit quality for many issuers in the state and lower spreads for California muni bonds.
As a result, California investors who aren't in the highest tax brackets should do some research before adding to positions, as it may be possible to achieve higher after-tax yields with out-of-state-munis. However, California investors in the state's top tax brackets may still achieve higher after-tax yields by sticking with