Weekly Commentary | May 31, 2026 | Another Strong Week, JOF Add, DSM/LEO Bump, Muni Swaps
Summary
Bond CEF discounts are widening on interest rate fears, but volatility remains low, differentiating this environment from past bear markets.
A swap from Nuveen CA Quality Muni Inc (NAC) to PIMCO CA Muni Inc (PCQ) is compelling, given NAC’s unsustainable yield and high premium.
RiverNorth muni CEFs (RMMZ, RFMZ) are favored for strong NAV performance…
