CMU News and Press, MFS Municipal Income Trust From 07/04/21

4 out of 23 CEF sectors positive on price and 1 out of 23 sectors positive on NAV last week. ACP's rights offering was fully subscribed, causing a -3% NAV hit. BST's rights offering is ongoing, what to do for investors. FSLF will liquidate in another Saba victory, a slim arbit...

The Fed now acknowledges inflation risks are to the upside. With high uncertainty on the inflation and employment outlook, adjusting its exceptionally loose monetary stance at the right time and pace become a very difficult high-wire act. The Fed now acknowledges the upside inflat...

We review CEF market valuation and performance over the first week of June and highlight recent events. The CEF market pushed higher at the start of June with a favorable backdrop of stable Treasury yields and rising equity prices. Our stance in CEFs remains committed to seeking o...

We take a look at the Municipal CEF sector which has held up very well despite a rise in Treasury yields. Fundamentals remain in good shape with the fiscal stimulus feeding through and the potential infrastructure tailwind in the pipeline. We continue to favor the credit or high-y...

We believe the investing public appears to already be anticipating higher taxes and are currently favoring tax-exempt income solutions, based on fund inflows. Currently, high yield municipal bond defaults are actually on the decline as cities and states re-emerge from some COVID-19 re...

We take a look at the Municipal CEF sector which has been buffeted over the past few months by rising Treasury yields. Fundamentals are in good shape with tax collections down just 1% year-on-year, the stimulus package exceeding budget shortfalls, and potential infrastructure spending...

Are we going to go back to the past, as economies around the world open and vaccinations and herd immunity take hold? At Cumberland Advisors, we see less near-term municipal credit risk, but we are a little cautious of weaker sectors and regions that may not receive aid or that have h...

Twenty-two out of 23 CEF sectors positive on price and 21 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. Limited duration is the highest-yielding CEF sector. For further details see: Weekly Closed-End Fund Roundup: February 7, 2021

The tax-exempt CEF sector has proven to be relatively resilient over the past year, generating attractive absolute and risk-adjusted returns. We take a look at the sector and, in particular, focus on the two key allocation dimensions for investors: Duration and credit risk. We als...

Having strongly underperformed the wider stock market in 2020, high-dividend stocks have shown early signs of a rebound in recent weeks. Dividend cuts and suspensions have started to normalize, and the ongoing low-interest-rate environment and the recent tightening in credit spreads s...