NMCO News and Press, Nuveen Municipal Credit Opportunities Fund From 01/15/21

December was another good month for CEFs with some discount tightening and NAV growth. The Core Portfolio was up over 1% with the NAV up 1.8%. The January Effect could bring discounts to an expensive level if the recent trends continue. At that point we would want to start reducing CE...

Despite 2020's many challenges, the Bloomberg Barclays Municipal Bond Index was up 5.2%, with returns that were even more compelling for the second half of the year, across the credit spectrum. During the year, we expect net supply to turn negative as more bonds mature or more bonds t...

The municipal securities most affected by the pandemic were in the sectors of transportation, hospitality and entertainment, higher education, and healthcare; and most of these sectors did receive CARES Act funding. Moody's notes that although COVID-19 continues to weigh on credit qua...

The new Administration's tax proposals, in year one, total some $3.9 trillion, according to Moody's Analytics estimates. Yields on munis sank to 1.14%, which is their lowest since 1979. Also, the municipal bond spread to Treasuries is near historic lows. Yields have gone up somewh...

The portfolio returned +7.6% in November and continues to do well in December with a +1.35% return through Dec. 15. All sectors and all funds contributed to the return. By the 15th, all funds were hold with one sell on the sheets. We continue to think the portfolio is better posit...

Tax-exempt bonds have been a staple of tax-efficient income portfolios for a long time. We take a look at some of the key investment dimensions that underlie the construction of a tax-exempt portfolio. Democrat control of the Senate increases the likelihood of both muni fiscal sup...

2020 was an unforgettable year in markets, delivering a number of important lessons to income investors. We review some of these lessons such as ignoring CEF premiums, chasing yield, failing to keep dry powder handy and others. In the current market, we remain fully invested in ou...

The bond fund outflows of March followed the downdraft in oil prices caused by the onset of the pandemic, which caused the sharp sell-off in the stock market. The rebound at the end of March was one of the most vigorous muni rallies ever witnessed. Muni yields across the board are...

A dearth of municipal issuance drove strong performance in November. Typical year-end outflows due to tax loss selling have yet to emerge. We expect firm demand to outpace modest issuance through year end. For further details see: Munis Make Up For A Rough Ride

Allocating to municipal bonds can be a fraught proposition of having to choose duration, credit quality, investment vehicle and other investment characteristics. This is why many investors short-circuit this process by choosing CEFs of a fund company they are familiar with. We tak...