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

Apr 29, 2023

∙ Paid

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 …