NMCO - Municipal CEF Sector Update: Under Pressure

• Tax-exempt municipal yields have trended down since the start of the year on the back of strong demand from investors and lower Treasury yields.
• However, over the last few weeks, yields have backed up sharply on a hawkish Fed turn.
• We take a look at the sector performance year to date, key drivers going forward and highlight a number of CEFs such as BTT, NAD, and NMCO.

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