PMF - PIMCO CEF Update | July

PIMCO released their June report on their fund complex. The data shows a continuation of recent trends including weakness in their muni funds, which continue to erode UNII and will eventually need a cut, as well as strength in their taxable funds.

Recall that PIMCO Dynamic Credit and Mortgage (PCI) recently increased their distribution by 6% and effectively rules out a distribution cut for the near term. The funds have produced sizable YTD gains as detailed below.

We recently wrote on PCI in our article titled,"PCI Increases Distribution, Decimated Cut Argument."

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