Investors in tax-exempt debt should be cautious about heeding recent reports about the possibility of widespread bankruptcy and default in the municipal market, and stop running away from solid, safe investments because of distorted opinions in the media.

That was the advice from top portfolio managers and traders at DWS Investments, the retail arm of Deutsche Bank’s global asset management division, given during a teleconference Wednesday aimed at dousing the recent firestorm of negative press about the municipal bond market.

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