Municipal Bond Presentation:

Tax-free bonds are an important source of income for many high net worth individuals and some financial corporations such as banks. Tax-free bonds are a tool of choice for many governmental entities to finance themselves and their needed projects. 

Yet over the past several years, the tax-free market has been anything but staid. Fears of issuers' fiscal conditions and lack of policy steps to solve fiscal imbalances have spooked investors. In one 10 week period ending January 2011, roughly 4% of total muni-bond-assets were pulled out of the tax-free market. 

Headlines about the precarious state of municipal and state finances — such as New Jersey Gov. Chris Christie’s claim that his state could go bankrupt due to health-care costs — have added to worries, while well-known analyst Meredith Whitney has predicted there would be between 50 and 100 muni-bond defaults  totaling hundreds of billions of dollars.

Join us on Wednesday April 25th at noon at 103 West as John Miller, CFA, and Managing Director and Co-head fixed income leads us in a discussion about this large and important sector of the market. 

Mr. Miller is co-head of Nuveen Asset Management’s fixed income investment activities. He also has direct responsibility for managing the Nuveen High Yield Municipal Bond Fund and other high-yield municipal funds and institutional accounts. He joined Nuveen in 1996 as a municipal credit analyst and moved into portfolio management in 2000. Mr. Miller became a managing director and head of the portfolio managers in 2006, became CIO of Nuveen Asset Management’s municipal bond team in 2007, and was named co-head of fixed income in 2011. 

Mr. Miller earned his B.A. in economics and political science from Duke University, an M.A. in economics from Northwestern University, and an M.B.A. with honors in finance from the University of Chicago.

JOHN V. MILLER, CFA - MANAGING DIRECTOR, CO-HEAD OF FIXED INCOME

Mr. Miller is co-head of Nuveen Asset Management’s fixed income investment activities. He also has direct responsibility for managing the Nuveen High Yield Municipal Bond Fund and other high-yield municipal funds and institutional accounts. He joined Nuveen in 1996 as a municipal credit analyst and moved into portfolio management in 2000. Mr. Miller became a managing director and head of the portfolio managers in 2006, became CIO of Nuveen Asset Management’s municipal bond team in 2007, and was named co-head of fixed income in 2011. 

Mr. Miller earned his B.A. in economics and political science from Duke University, an M.A. in economics from Northwestern University, and an M.B.A. with honors in finance from the University of Chicago.