CMU News and Press, MFS Municipal Income Trust From 11/08/21

MFS High Yield Municipal Trust (NYSE:CMU) declares $0.0157/share monthly dividend, in line with previous. Forward yield 4.17% Payable Nov. 30; for shareholders of record Nov. 17; ex-div Nov. 16. See CMU Dividend Scorecard, Yield Chart, & Dividend Growth. For further details see: MFS...

Rising interest rates drove negative total returns. Supply and demand dynamics turned less seasonally favorable and acted as a headwind. More attractive valuations could provide near-term opportunity. For further details see: Munis Remained Tethered To Rates In September...

2 out of 23 CEF sectors positive on price and 2 out of 23 sectors positive on NAV last week. MLPs lead while convertibles lag. Asia equity is the highest-yielding CEF sector. For further details see: Weekly Closed-End Fund Roundup: October 3, 2021

Three out of 23 CEF sectors positive on price and six out of 23 sectors positive on NAV last week. GOF/GGM/GPM merger has been approved. RIV announces a new rights offering. For further details see: Weekly Closed-End Fund Roundup: Sept. 26, 2021

Modestly negative performance in August capped a robust summer seasonal period. Issuance exceeded expectations, resulting in less of a supply/demand imbalance than is typical. We maintain a defensive posture into the historically less favorable month of September. For furthe...

Major indices hit record highs again this week with mid-caps joining large-cap at all-time highs. August was the seventh consecutive month of gains for the S&P. Discounts widened for the third straight week with taxables going from 2.21% on August 15 to +0.68% on September 5. Whil...

We review CEF market valuation and performance over the first short week of September and highlight recent market events. Discounts continue to move sideways even as NAVs keep edging higher. Distribution cuts in the PIMCO suite have highlighted the gap between fund distribution ra...

A number of mutual funds focused on high-yield municipal bonds have announced closure to new investors recently on the back of strong performance-chasing inflows. This sub-sector remains attractive in our view due to attractive yields and a supportive macro backdrop. We highlight ...

The option-adjusted-spread ((OAS)) on the investment grade or high-grade corporate bond index, is presently about 95-100 bps better than the equivalent Treasury. As of last Friday, August 27th, 2021, the BBB OAS was yielding about 104 bp’s over equivalent Treasuries, which shou...

The intensity of the income need only grows as investors move closer to - and enter - their retirement years. While diversified credit portfolios offer benefits, the potential drawdowns could be too much for some investors’ risk tolerances. For tax-sensitive investors, the ...