CEF Report July 2022: Not Safe To Tread In Taxables Just Yet
Summary
CEF NAVs took a big hit in June and continue to show downward trends as they have for most of this year. That trend is driven by wider spreads.
Discounts have tightened a bit in recent weeks and are basically saying that a recession is not imminent. If a recession comes, much wider discounts are likely.
We think staying with the high quality trad…
