Weekly Commentary | June 22, 2025 | BHK Rights, Munis, China Liquidation

Summary

• I remain bullish on international stocks, commodities, and tech, while viewing current CEF market volatility as a buying opportunity for discounted funds.

• Muni CEFs are attractive due to record issuance pressuring prices, creating compelling entry points, especially as supply is likely to moderate later this year.

• I expect the Fed to cut rates more…