There’s a “delayed reaction” dividend play (for tax-free 5% yields) waiting for us in municipal bonds right now—and it’s not going to last. I know, I know. “Munis” don’t exactly get most folks’ hearts racing. But the fact that this corner of the market tends to lag behind stocks, bonds and the rest is exactly what’s behind our opportunity here. Plus, we get to buy cheap and get our dividends monthly when we buy our munis through a closed-end fund (CEF). That’s because most muni CEFs pay monthly—including a 5.3% payer called the Nuveen Municipal High Income Opportunity Fund (NMZ), the particulars of which we’ll delve into below.… Read more