Municipal CEF Update | Back To Favorable Trend, Overweighting

Dec 08, 2021

∙ Paid

Summary

Muni CEFs peaked in early August. Since then, discounts have widened by 2-3% while NAVs fell by about 3.5% through the end of Oct.
Since then, NAVs have started to rebound as we have passed the seasonally weakest part of the calendar for the muni market.
Tax loss harvesting in CEFs seems to also have passed and discounts have stabilized but have y…