VFL News and Press, Delaware Investments National Municipal Income Fund From 07/01/21

Faced with higher inflation numbers, the Federal Reserve has begun to create more meaningful parameters around its evolving stance on monetary policy. Although the changes could be less dramatic than many expect, we believe that investors should be prepared for higher market volatilit...

The second quarter of 2021 saw a drop in US Treasury yields, as well as in high-grade tax-free bond yields. The quarter in general was one that saw continued increases in month-over-month inflation but little real reaction in the bond markets. The Federal Reserve has continued to ...

The potential for higher U.S. taxes, coupled with regulatory risks and shifting growth momentum, tempers our near-term enthusiasm for U.S. equities. Euro area business activity surged in June as the region catches up on the restart that has been led by the U.S. and UK. Investors w...

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY, and DxYxZ are given. Only one fund with >100% coverage had a negative z-score this month. For further details see: The Quality Closed-End Fund Report, June 2021

20 out of 23 CEF sectors positive on price and 21 out of 23 sectors positive on NAV last week. MLPs lead, while commodities lag. Covered call increased most in premium/discount valuation last week. For further details see: Weekly Closed-End Fund Roundup: June 13, 2021

During the fund flows week, investors continued their search for yield, injecting a net $2.0 billion and $1.9 billion into taxable bond funds (including ETFs) and municipal bond funds, respectively. On the taxable side, Short Investment-Grade Debt Funds (+$884 million) attracted the l...

With the post-pandemic US economy on the mend, a new threat has emerged: inflation. A confluence of pent-up consumer demand, record household savings, low inventories and global shortages has ignited the sharpest near-term price hikes in decades. Effective inflation-protection str...

Municipals posted another month of positive performance amid range-bound interest rates. Fiscal stimulus and infrastructure uncertainty limited municipal issuance. Summer seasonal supply-demand dynamics have historically boded well for muni performance. For further details s...

Risk-adjusted performance for the Global Market Index (GMI) continued to tick higher in May. GMI’s Sharpe ratio — a measure of risk-adjusted return – rose to 0.82 on a trailing 10-year basis through last month. That’s close to a pandemic high, but still...

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Muni CEFs feature in the top list of widest discount. For further details see: The Quality Closed-End Fund Report: May 2021