CEF Report February 2023 | The January Effect Didn't Disappoint
Summary
The January Effect boosted the valuation of most areas of the CEF market. Taxable bond CEFs have rallied strongly while leaving munis behind.
We think this is an opportunity for investors for 2023 as credit spreads are likely to widen dragging down taxable bond NAVs. We favor munis and high-quality taxables.
Agency MBS is one of the best areas of…
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