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Nuveen: Muni Credit Risk Is Overblown

Improving local-government finances and lower default rates than corporates have made high-yield municipal bonds an attractive option for investors eyeing tax-free income, says Nuveen's John Miller.

Mike Taggart: Hi, I'm Mike Taggart, director of U.S. closed-end fund research at Morningstar. With me today is John Miller, co-head of fixed income at Nuveen Asset Management. John, thanks for joining me.

John Miller: Thank you for having me.