DMO News and Press, Western Asset Mortgage Defined Opportunity Fund Inc From 08/06/22

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 ...

Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared their distributions for the months of September, October, and November 2022. The following dates apply to the distribution schedule below: This press release is not for tax reportin...

We review CEF market valuation and performance through the third week of July and highlight recent market action. CEFs continued their rebound, supported by rising stocks and tighter credit spreads. Leverage cost differentiation is beginning to show up in CEF distribution changes....

CEF NAVs took a big hit in June and continue to show downward trends as they have for most of this year. That trend is driven by wider spreads. Discounts have tightened a bit in recent weeks and are basically saying that a recession is not imminent. If a recession comes, much wider di...

The market consensus now expects inflation to move back to its pre-COVID trendline over the next few years. This is obviously not impossible but it does seem to discount some of the new deglobalization and geopolitical frictions that may keep inflation at above-consensus level. Th...

We review CEF market valuation and performance through the second week of July and highlight recent market action. The CEF market was fairly flat on the week as stocks and Treasuries moved in opposite directions. We discuss if it makes sense to avoid leveraged CEF given leverage c...

The following Funds announced today their share repurchase activity during the second quarter of 2022. Share Repurchases seek to enhance shareholder value by purchasing the Fund’s shares when trading at a discount to the Fund’s net asset value (“NAV”) per...

We take a look at a mortgage CEF DMO, trading at a 10% current yield and a 9.6% discount. The fund has a mostly floating-rate profile and a fixed leverage cost until mid-2023, allowing to strongly benefit from rising short-term rates. DMO primarily holds primarily legacy non-agenc...

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promises high distributions and reasonable total returns. Closed-end funds are generally characterized by higher volatility and deeper drawdowns than the broad marke...

The drop across the income investment space has been both broad and deep, hitting just about every type of asset. We take a look at which features have enabled some securities to weather the storm more successfully than others - we find these features more prevalent in shorter-maturit...