Municipal bonds are bouncing back after the Fed's "taper talk" spurred a selloff in 2013. Surprised investors should stick with the asset class in 2014 for yield, safety and diversification, says Mark Sommer, portfolio manager for the Fidelity Municipal Income Fund. Sommer says a lack of supply so far this year is also creating a strong technical environment for muni-bond prices. Finally, Sommer says health care bonds are among his favorite credits as consolidation hits the sector.

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