SBNYX Western Asset New York Municipals A Forecast, Technical & Fundamental Analysis

The investment seeks as high a level of income exempt from regular federal income tax and New York state and New York City personal income taxes as is consistent with prudent investing. Under normal circumstances, the fund invests at least 80% of its assets in "New York municipal securities." New York municipal securities are securities and other investments with similar economic characteristics the interest on which is exempt from regular federal income tax and New York state and New York City personal income taxes but which may be subject to the federal alternative minimum tax. It is non-diversified.