PAXS - CEF Market Weekly Review: Why Falling In Love With Drawdowns Can Be Risky

• We review CEF market valuation and performance through the third week of March and highlight recent market action.
• The CEF market was able to put up a rally this week, however, it remains down for the month. We don't expect the market to stage a full recovery.
• We discuss some of the challenges of CEF drawdowns which make them less obviously appealing for investors.
• We highlight the price action in PAXS and the shareholder report for OPP.
• The CEF space has recently lurched into cheap territory before coming back off the ledge somewhat - given the sharp flattening of the yield curve we like shorter-duration holdings.

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