Morning Note | Aug 3, 2023 | Rates Moving Higher But Muni CEFs Are Being Bought

Good Morning/Afternoon-

Sorry for the late note today.

Markets are mixed without much movement as yields are on the rise following the Fitch downgrade.  The 10-year yield briefly hit 4.20%, near the cycle high.  This is pressuring the real estate sector which is down more than 2.2%.  ISM services also came out this morning at 52.7, below the estimate of 5…