With discounts recently widening across the board for fixed income CEFs, I've taken a renewed interest at looking at target term funds. Remember that with target term funds, the discount is likely to close towards the termination date since the NAV will be returned to shareholders upon liquidation (see Fund Spotlight: Finding Hidden Gemstones In Target Term CEFs for more information).* Therefore, widening discounts in target term funds present a double opportunity: an opportunity to lock in a higher initial yield as well as an ability to lock in a higher "alpha" in the form