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PIMCO Municipal Income Fund III of Beneficial Interest
The price of the PIMCO Municipal Income Fund II (PML) has now exceeded its previous post-GFC peak of 14.05 in the last few trading days which makes it interesting enough for us to have a quick look.
Source: ADS Analytics LLC, TIINGO
Even a cursory look at the price and NAV chart below makes us concerned. We make three immediate observations:
Previous moves above a 14 price level have not ended happily. We are not chartists so we don't put a huge amount of weight on this observation but at the same time,