Until mid-February this year, markets were making new all-time highs. Then suddenly, they were hit hard by a pandemic and resulting economic shutdowns that no one could have predicted.From time to time, especially after a big market correction, we like to stu…
1 out of 23 CEF sectors positive on price and 8 out of 23 sectors positive on NAV last week. A little bit of alpha available from MNE and SRF/SRV mergers. GER/G
Downward (who are named after Hum and very much influenced by them) are releasing a two-song 7” on New Morality Zine next week. Here's one of the songs... Continue reading…
14 out of 23 CEF sectors positive on price and 19 out of 23 sectors positive on NAV this week.ASG/USA lower distributions in line with variable distribution policy.DSU tender offer expires.
”Noises Drown” gives you a great idea of what to expect from this rising California band, as they themselves would agree: ”If you don’t like this song, you probably won’t like our band.” Continue reading…
Going into this month's distribution season we were more nervous than other times given the disruptions in March. The result was much better than feared.We saw more distribution increases than decreases, a healthy sign, driven by a significant reduction in le…
We estimate changes in outstanding leverage for three PIMCO national muni funds: PML, PMX, and PMF.We estimate that all three funds cut their borrowings in the range of 16-18% with reductions all coming from TOB positions.Overall, the funds continue boasting …
I remain generally cautious on high yield muni bonds at this time, but funds like HYD do offer some value.HYD is a passive ETF, yet trades at a 5% discount to NAV. This is unusual.Health care related revenue bonds make up a sizable portion of the high yield m…
23 out of 23 CEF sectors positive on price and 21 out of 23 sectors positive on NAV last week.The turn of the month brings news of distribution changes from the main fund families.A number of muni funds raise their distributions, while some senior loan funds …
14 out of 23 CEF sectors positive on price and 19 out of 23 sectors positive on NAV this week.ASG/USA lower distributions in line with variable distribution policy.DSU tender offer expires.
We regularly write about multi-basket income strategies. They mostly have the same underlying principles but vary in terms of income needs, growth goals, and risk levels.We wanted to analyze and give readers a view of how they would have fared during this unp…
We estimate changes in outstanding leverage for three PIMCO national muni funds: PML, PMX, and PMF.We estimate that all three funds cut their borrowings in the range of 16-18% with reductions all coming from TOB positions.Overall, the funds continue boasting …
I'm going to show you my favorite (perfectly legal) way to pay zero tax on your dividend income. To understand the big savings this could mean, let's look at two fictional investors who are nearing retirement: Jane and Janet, notes Michael Foster, editor of Contrarian Income Report.
Markets on the week were little changed, but did end on a down note and some friction boiling up again on the trade front.We discuss the closed-end fund news of the week including distribution changes and some opportunities.There were some swapping opportunit…
We go through Nuveen taxable and muni CEFs looking at coverage ratios, UNIIs, and trends.These monthly reports can provide valuable insight into whether or not a distribution is safe or not. More importantly, why a fund may trade cheap or rich.We look at som…