This summary is based on a report that was published on September 3, 2013 and titled, Municipal Macro Report: College Orientation. Morgan Stanley does not undertake any duty to update this material or otherwise advise you of changes. This material is provided for informational purposes only.

Please note that the information in this post represents the opinions of Michael Zezas and not necessarily those of Van Eck Global. These opinions may change at any time and from time to time. Not intended to be a forecast of future events, a guarantee of future results, or investment advice. Current market conditions may not continue. Non-Van Eck Global proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of Van Eck Global. MUNI NATION is a trademark of Van Eck Associates Corporation. Please note that Van Eck Global offers municipal bond exchange-traded funds. Please see the prospectus and summary prospectus for more information.

Michael Zezas, CFA
Executive Director, New York, Municipal Strategist, Morgan Stanley

Michael Zezas is Morgan Stanley’s Chief Municipal Strategist, leading the firm’s strategic municipal research effort. He has been recognized by Institutional Investor Magazine as a member of its All-America Fixed-Income Research team in the “Municipals Strategy” category and is a member of SIFMA’s muni policy committee.

MUNI NATION invited Michael Zezas, Morgan Stanley’s Municipal Strategist, leading the firm’s strategic municipal research effort, to provide his commentary on the education sector.