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Muni CEF Update | August 2024 | Opportunities Remain. LOAD UP!

Muni CEF Update | August 2024 | Opportunities Remain. LOAD UP!

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Yield Hunting
Aug 29, 2024
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Yield Hunting
Muni CEF Update | August 2024 | Opportunities Remain. LOAD UP!
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Summary

  • Municipal bond closed-end funds (CEFs) are poised for gains as interest rates likely peaked, reducing leverage costs and boosting net investment income (NII).

  • Current average discount is -7.2%, with potential for further tightening, making discounted funds compelling for the next 12 months.

  • Focus on funds with greater liquidity, activism, wider discounts, higher NII yields, and stronger NAV performance for optimal returns.

  • Saba's significant investments in Pioneer muni CEFs indicate strong NAV performance, high yields, and remaining discounts, enhancing their attractiveness.

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