DMO News and Press, Western Asset Mortgage Defined Opportunity Fund Inc From 09/23/22

Summary We review CEF market valuation and performance through the third week of September and highlight recent market action. CEFs had a tough week due to an upside surprise in inflation which pushed nearly all assets lower. We discuss why rising CEF leverage costs cannot exp...

Western Asset Mortgage Opportunity Fund  ( NYSE: DMO ) has declares $0.10/share monthly dividend , in line with previous. Payable Oct. 3; for shareholders of record Sept. 23; ex-div Sept. 22. Payable Nov. 1; for shareholders of record Oct. 24; ex-div Oct. 21. ...

Summary The income market has gyrated widely this year in response to changing market conditions and Fed's stance. We discuss why we didn't chase the June-August rally and why we are now seeing value reemerge in this latest bout of weakness. We currently view selective decent-...

Summary Most bread-and-butter income sectors took significant losses this year and this includes high-quality sectors like investment-grade bonds which normally outperform in weakness. In this article, we highlight a trio of niche and overlooked income sectors: CLO debt, asset-bac...

Summary We review CEF market valuation and performance through the first week of September and highlight recent market action. CEFs had another down week along with the rest of the income space on the back of hawkish Fed commentary. We discuss whether MLP CEFs can diversify CE...

Summary Short-term rates have risen sharply this year as the Fed tries to rein in inflation. To take advantage of rising rates, many investors turn to bank loans as their first and only floating-rate holding. We highlight a few other floating-rate sectors that look more attrac...

A possible recession is top of mind for income investors given the dip in leading indicators and the Fed that looks set to drive activity lower to cool off inflation. Even if there is a measure of consensus that macroeconomic activity is likely to slow down sharply over the coming mon...

We review CEF market valuation and performance through the first week of August and highlight recent market action. CEFs had a strong week overall as they continue to be supported by resilience in discounts. We highlight why CEF performance needs to be evaluated in the context of ...

We take a look at two 10%-yielding Western Asset credit CEFs: DMO and WDI. The main differentiator is the allocation profile, with DMO primarily holding mortgage securities while WDI is more of a multi-sector credit fund. Both CEFs remain attractive in our view but feature charact...

We review CEF market valuation and performance through the last week of July and highlight recent market action. CEFs had a great July, erasing all of the June losses. We highlight one take on distribution coverage which makes little sense and which can mislead investors. And ...