Muni CEFs Look Better (And Buyable) But Not Great

May 31, 2022

∙ Paid

Summary

Muni CEFs have taken quite the beating this year and discounts have widened out- though not nearly as much as I would have expected.
NAVs have stabilized as rates have started to come back down from cycle highs. The 10-yr hit 3.2% in early May and now sits at 2.74%.
Muni CEF valuations are all over the place so investors can benefit from using the…