- We review CEF market valuation and performance through the fourth week of February and highlight recent market action.
- CEF NAVs held up well this week outside of EM sectors and in line with broader markets, however, discounts widened in aggregate due to the spike in volatility.
- On the back of our recent discussion of CEF income headwinds due to an increase in short-term rates, we discuss the impact of a flatter yield curve.
- After decreasing our CEF allocation in our Income Portfolios over 2021, we are beginning to move back into the space, taking advantage of a more balanced valuation picture.
For further details see:
CEF Market Weekly Review: The Impact Of A Flatter Yield Curve On CEFs