PIMCO Update Jan 2024 | PDX Goes To No Leverage, Valuations Are Up Significantly

Summary

• PIMCO CEFs have shifted from being oversold and cheap to slightly overvalued and approaching moderately overvalued.

• The author follows a buy-and-rent strategy, trimming/selling positions when they are overvalued and seeking undervalued opportunities.

• The muni side of PIMCO CEFs looks more compelling, while the taxable side is nearing an overvalued …