BFK - February: Contrarian Closed-End Funds Opportunities Abound
The strength of January disappeared in February despite little negative macroeconomic news, leading many analysts to conclude that profit-taking (and to a certain extend deleveraging) was driving the sudden fall in the S&P 500 (SPY). And while the shot-up in the VIX drove a fascinating, headline-catching story about poorly designed and understood ETPs blowing up, it remains the broad assumption of Wall Street analysts that the sell-off lacks a structural cause.
Hints of this are in the more placid bond markets.
Although down, both the iShares National Municipal Bond ETF (MUB)