Weekly Commentary | August 24, 2025 | SWZ Rights, JEQ Tender, Pioneer Liquidation, DMA
Summary
Fed Chair Powell's dovish Jackson Hole remarks boosted markets, increasing expectations for a September rate cut and favoring muni CEFs and small caps.
Muni CEFs, after rallying from multi-year lows, still offer about 3 points of discount closure potential, making them attractive if rate cuts materialize.
Multiple CEF corporate actions are underway…
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