EIC - CEF Weekly Market Review: A Wobble Of The Three-Legged Stool

• We review CEF market valuation and performance over the last week of September and highlight recent market events.
• After a string of positive returns, the CEF space finished September in the red as both NAVs and discounts moved lower with shorter-duration credit sectors outperforming.
• The lack of diversification between bonds and stocks is an unwelcome dynamic for CEF investors as inflation and more hawkish Fed rhetoric dominates market news.
• We remain focused on niche and floating-rate sectors as well as funds with a consistent history of alpha generation.

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