Municipal And CEF Update | Analysis And Recommendations

Summary

• Muni CEF discounts are closing by the day.  I believe they will reach a premium in the next few months (perhaps sooner).

• We have remained steadfastly bullish on tax-free munis, especially high yield munis in 2021, for numerous reasons.

• Our view is that rates have made the bulk of their upward move for the cycle already. Given that, we do not think …