CEF Report December 2022 | Muni's Continue Their Cuts But Look Attractive

Dec 19, 2022

∙ Paid

Summary

CEFs continue to see wider credit spreads as investors take tax losses but also worry about recession and interest rates.
Muni CEFs today are trading very cheap thanks to tax loss harvesting and fears of higher rates. But we think the bulk of the rate move has been made.
Remember, we buy the NAV, not the discount longer-term. If we are buying the…