AFB - Weekly Review: Municipal Bond CEFs - The Sector Seems Inspired To Recover Itself
Introduction
Over the past few months, most of you have noticed our increased activity in closed-end funds as the inflow of volatility finally shook them up and created various arbitrage, and directional, opportunities for active traders like us.
Now that these products have grabbed our attention, we are continuously monitoring most funds by sector and will reinstate our Weekly Review, publishing a recap of the groups of interest.
The Benchmark
No doubt, the biggest event for the sector was the speech of Federal Reserve Chairman Jerome Powell. The 10-year Treasury yield dips below 3% after