CEF Report January 2022 | Not Nearly As Good As Last Year

Summary

• CEFs had a great year in 2022.  But this year looks decidedly different as we start at different valuations and have more headwinds upcoming.

• Muni CEFs could experience the brunt of the pain.  I still think we could see some buying over the next few weeks but thereafter could be trouble.

• Discounts have widened fairly significantly since August but …