PCM News and Press, PCM Fund Inc. From 04/26/21

We take a look at the Limited Duration CEF sector which offers one way for income investors to shorten up on their interest rate sensitivity. Investors seeking a higher income level as well as tactical investors on the lookout for cheaper discount valuations should consider BGH. A...

The most recent UNII report showed continued deterioration in the coverage ratios and UNII values of the taxable funds. Coverage ratios were weaker on the taxable side in part because of a weaker dollar relative to the pound. Muni CEF coverage remains very strong. I'm concerned ab...

Our objective for a sustainable income portfolio is high income combined with high confidence of capital preservation over a retiree's lifetime. With this entry the portfolio grows to six holdings. BLW is the best of the limited duration, closed-end fund category. The fund's 7...

Global manufacturing PMI buoyed by further strong gains in production. Robust growth seen in the US, Eurozone, India and Brazil despite supply chain delays close to record high. Expansion limited by further slowdown in China, in turn linked to shipping and logistics problems. ...

We take a look at the PIMCO CEF leverage and coverage numbers for December. Overall, December was a pretty good month for shareholders as coverage increased across the board, NAV gains exceeded distributions while PIMCO took aggregate leverage lower to reflect less attractive valuatio...

22 out of 23 CEF sectors positive on price and 21 out of 23 sectors positive on NAV last week. Rally continues for the fourth week as MLPs lead the way. DSL announces distribution cut, discussed in a separate report for members. For further details see: Weekly Closed-End...

The K shape makes a lot of sense, where the upper end kind of is bouncing, the upper part of the K and then the other side are declining. One of the effects of COVID is it's essentially accelerated the adoption of multiple technologies at a mass level that we would never have seen so ...

PCM remains a reasonable option for a long-term hold, with a steady yield and a portfolio primarily made up of mortgage debt. At current levels, the fund seems a bit expensive, so investors want to be cautious with new buys. The premium to NAV sits over 11%. Income metrics are str...

The broader market took a dip later in the month, dragging most sectors but utilities down for the month. Opportunity may soon present itself over the coming months so I raised some cash to hopefully take advantage. This is the first month, in a long time, where I have raised a ne...

Coverage rebounded in September as the dollar rallied off the interim lows. We take a hard look at what the dollar is doing so far in October to forecast ratios. The PIMCO muni funds look fundamentally the healthiest they have been for many years now. The average coverage ratio is 106...