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PMF - PMX: Be Careful Not To Overpay For Munis Right Now
PIMCO Municipal Income Fund
Muni funds should trend higher in 2021 if the federal government follows through on expected support.
Tax-exempt income is an area that will benefit from higher tax rates on top earners and corporations, both of whom are traditionally large players in the muni sector.
Despite these tailwinds, investors should recognize the challenges Covid-19 has put on state and local finances. This means buying CEFs at a premium, like PMX, should be done with caution.