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PIMCO Update | April 2023 | Taxables Get Hit Again While Munis Are A Mystery

PIMCO Update | April 2023 | Taxables Get Hit Again While Munis Are A Mystery

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Yield Hunting
Apr 29, 2023
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PIMCO Update | April 2023 | Taxables Get Hit Again While Munis Are A Mystery
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Summary

  • Coverage ratios fell again thanks to a lower dollar- a trend that really hasn't abated in the last six months.

  • Munis see similar coverage ratios for the last several months despite cutting their distributions substantially in January.  We can't make heads or tails of it.

  • The NAVs have been in a downtrend for most of the last year-plus and continue …

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