MHF - Muni CEF Update April 2022: Still No Capitulation But Cuts Have Started Up

April, 28 2022 07:00 AM Western Asset Municipal High Income Fund Inc.

Muni CEFs have been beaten up so far in 2022. This is the worst 3-month period in a non-recessionary environment for 3 decades.
In prior periods of rising rates it has been a good time to get in as muni bonds tend to be resilient over time.
While muni CEFs are much cheaper today than they were three months ago, the rapid decline in the NAVs keeps me on the sidelines.
For those looking to add, we have several good options. As always, we look at distribution safety above all else but couple it with an attractive valuation.
Picks: MMD, NEA, LEO, MVF, EVN, VPV, PMF.

For further details see:

Company Name:	Western Asset Municipal High Income Fund Inc.
Stock Symbol:	MHF
Market:	NYSE