Portfolio Manager Tony Tanner participated in a recent edition of Asset TV’s Muni Bond News to provide a recap of the municipal bond market over the past year, as well as key market considerations for 2022. Tony shares his perspectives on several important market drivers, including:

  • Potential implications of Build Back Better and pending legislation
  • Economic factors, including interest rates and inflation concerns
  • Attractive valuations and tax-equivalent yields for municipal bond investors


Tony Tanner is Lead Portfolio Manager of Aquila Tax-Free Trust of Arizona, and Co-Portfolio Manager of Aquila Churchill Tax-Free Fund of Kentucky and Aquila Tax-Free Fund For Utah.

Mutual fund investing involves risk; loss of principal is possible. Investments in bonds may decline in value due to rising interest rates, a real or perceived decline in credit quality of the issuer, borrower, counterparty, or collateral, adverse tax or legislative changes, court decisions, market or economic conditions. Fund performance could be more volatile than that of funds with greater geographic diversification.

Shares of the Funds may only be sold by offering the Funds’ Prospectus. Before investing in a Fund, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available here, from your financial advisor, and by calling Aquila Group of Funds at 800-437-1020.