Weekly Commentary | August 11, 2024 | Recession Fears Subside, Muni CEFs Rally. PYLD.
Summary
Recession fears fluctuate, with ISM non-manufacturing data showing expansion, but major indices mostly lower after sell-off.
Interest rates rise to 3.93% on the 10-yr, ISM data indicates US economy not in imminent danger of slowdown.
Muni CEF discounts tighten, taxable side starting from overvalued state, better to sell than buy at current levels.
