WDI - YH Weekly Commentary Peak

August, 20 2021 07:00 AM Western Asset Diversified Income Fund of Beneficial Interest

Stocks finished the week up nicely with the S&P 500 up nearly 1% and the Nasdaq up just over 1%, for all new record highs.
The biggest worry lately in the markets (outside of Covid) has been valuations. But in the last 9 months, the market has actually become cheaper.
Taxable bond CEFs hit fresh valuation highs for the year with an average premium of +2.04% on our data and +1.84% on Rivernorth's website.
There remains no sector with a negative z-score (a relative valuation metric comparing current values to historical averages).
The PIMCO funds performed well last week with nearly all funds gaining premium. PCM Fund was the best, up 6.2%.

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Company Name:	Western Asset Diversified Income Fund of Beneficial Interest
Stock Symbol:	WDI
Market:	NYSE