Zephyr's Adjusted for Risk: Is it Time to Stop Overlooking Municipal Bonds?

Published on June 1, 2026

Mackay Municipal Managers’ Kazatsky on why municipal bonds—tax-exempt and taxable—are often overlooked yet attractive in today’s uncertain macro and rate environment.

Continue reading on website
Other news

The Hidden Tax Drag in Municipal Bond Portfolios: What Advisors Are Missing

June 1, 2026
The audit I would encourage every advisor to run before the next client review in a high-tax state takes less than one hour. Pull the fund's most recent annual report and find the state-by-state income breakdown. It shows what percentage of the fund's distributions came from bonds issued in each state.

Timing Productivity Benefits: The AI Economy

June 1, 2026
The bullish and bearish cases for AI's economic impact are not mutually exclusive. History suggests that both can be true simultaneously. Productive innovations that ultimately raise living standards broadly have frequently done so only after extended periods of disruption and concentrated gains.