Morningstar's Christine Benz demonstrates how our Tax-Equivalent Yield Calculator can help you determine whether you're better off investing in taxable or municipal bonds after adjusting for munis' tax-exempt status.
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.
Morningstar associate director of fund analysis Miriam Sjoblom explains what drove municipal bonds' great performance in 2011 and what issues may lie ahead for muni investors.