JLS News and Press, Nuveen Mortgage Opportunity Term Fund From 01/11/23

Summary After enduring one of the worst years on record across asset classes, investors should find more cause for optimism in 2023, even as the global economy faces challenges. Inflation is likely to moderate, and risks to the inflation outlook appear more balanced than they did severa...

Summary DMO was a fund brought up recently that has interested me in the past, but one that I've never covered. Over the long-term, this is the best-performing mortgage fund, but other timeframes reflect mixed results. At a large discount, the fund could be more compelling than its ...

Summary After adding $1.3 trillion in MBS over the last five years, banks slashed their holdings by roughly $100 billion as of November 2022. Mortgage rates in the United States have soared in 2022, helping to cool housing demand from home buyers. Investors holding MBS pools who may...

Summary Recession is foretold, in our view, as central banks crush demand to bring down inflation. We think markets are wrong to expect them to later come to the rescue. U.S. stocks fell and the Treasury yield curve inverted its most since the early 1980s. We see recent moves as reflect...

Summary Amid the crosscurrents, two themes have prevailed during the post-pandemic years, which lend some perspective to the macroeconomic roadmap ahead: namely, the bipolar swings in macro policy and the forces of economic normalization. After one of the worst years for fixed income as...

Summary We review CEF market valuation and performance through the first week of November and highlight recent market action. CEFs were broadly flat on the week with equity-linked sectors underperforming. We discuss some of the key questions surrounding the tax-loss season. ...

Summary Rate hikes and tighter financial conditions drove fixed-income returns lower in 2022. The broad repricing of bonds and the higher starting yields we have now can help insulate investors from further losses. If we look at international bonds, this is probably the first ...

Nuveen Mortgage and Income Fund ( NYSE: JLS ) declares $0.116/share monthly dividend, 251.5% increase from prior dividend of $0.033. Forward yield 8.72% Payable Dec. 1; for shareholders of record Nov. 15; ex-div Nov. 14. See JLS Dividend Scorecard, Yield Char...

Summary Just when the MBS Agency market seemed destined for a winning month, Halloween arrived and wiped out those good efforts and another losing month was posted. A whiff of supply (just $2B), a hint of the Fed (FOMC meeting this week), and fast money took their chips off the ta...

Summary Year-to-date, allocations to floating rate notes have resulted in a more than 20% performance differential compared to U.S. 10-Year notes. Rising rates explain why owning the same securities as the Agg but reducing the maturity profile (1–5 years) led to losses that...