NMCO - What's Happening In The Muni CEF Space?

(This report was published to members of Yield Hunting on May 12. All data is from that date unless otherwise stated.)

Many investors in the popular tax-free municipal bond space have noticed that their positions have lost some value. While the declines have been modest, they are still declines and no one likes to lose money, especially in the supposedly ultra-safe muni sector.

There's no doubt that state finances are in tatters as they increase spending on benefits for laid off employees and on fighting the COVID-19 battle. At the same time, tax revenue has