PIMCO August 2023 Report | Valuations Come Back Down But Still Not Compelling
Summary
PIMCO taxables have stagnant coverage levels and face potential distribution cuts, making them risky investments.
PDI and PAXS have seen a decline in price, bringing them closer to fair value, but NAV downtrends and low coverage pose additional risks.
PIMCO muni CEF coverage remains weak and UNII levels are falling, indicating potential distributio…
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