NXP

Nuveen Select Tax-Free Income Portfolio (NXP) declares $0.0455/share monthly dividend, in line with previous.Forward yield 3.16%Payable June 1; for shareholders of record May 14; ex-div May 13.See NXP Dividend Scorecard,

Despite the 5-15% decline in the analog semi industry in H1 of 2020, Payton Planar managed to grow its revenues by 9% and its operating profit by 15%.Growth was driven by increased adoption of planar transformers in cloud data centers and solar/wind inverters, compensating for the weakness in EV and industrial applications.The adoption of high-density electric circuits, such as SiC (silicon carbide) and GAN (Gallium Nitride), in EVs and 5G base stations create a demand inflection point for planar transformers.EVs and AI adoption will continue drive Payton's growth in the long-term.

In years with presidential elections, we take a deeper dive into how the national election could impact state and local governments.Political risk is also an important component of our analysis, as the political party makeup of the executive and legislative branches can have a large impact on municipal bonds.We think it is unlikely we'll see any additional aid ahead of the election, but post-election we think the potential rises, particularly if Democratic nominee Joe Biden wins in the US presidential race.Regardless of the November election outcome, we are prepared to take advantage of any changes to the muni bond market where we see potential investment opportunities.

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Municipal bonds are illiquid and tax-exempt and thus well targeted at very wealthy high-income individuals who face high tax rates.Given the racial disparity in wealth, it would be astounding if the disparity in municipal bond holding were not very large as well.To forestall a bankruptcy, you do not just lend money for current operations - you end up taking on past debts.

Municipal defaults and bankruptcies remain rare overall, even though they may have become more common over the last 10 years.At the end of 2019, the median rating for U.S. municipal credits had risen to Aa2 (2018: Aa3).We still believe that municipal bonds remain important to the core strategy of constructing an individual portfolio.

"Tomorrow, I expect the Apple bulls to resurface, the Zoom acolytes to speak up and the semiconductor analysts to raise numbers across the board thanks to Qorvo," the "Mad Money" host said.