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PNF - PNF: Income Stream Cut For First Time Since 2007
PIMCO New York Municipal Income Fund
Main Thesis
The purpose of this article is to evaluate the PIMCO New York Municipal Income Fund (PNF) as an investment option at its current market price. On the surface, I view New York municipal debt quite positively going forward. The high-tax jurisdictions within New York will continue to push New Yorkers in to tax-free income options, such as PNF. Given the new SALT deduction limits, residents of New York, California, New Jersey, and other states who are infamous for taxes should continue to fuel demand for muni debt, while supply remains on