- Major indices hit record highs again this week with mid-caps joining large-cap at all-time highs. August was the seventh consecutive month of gains for the S&P.
- Discounts widened for the third straight week with taxables going from 2.21% on August 15 to +0.68% on September 5. While 1.6% is not all that worrisome, the trend is.
- In terms of funds, the PIMCOs got clobbered with the three funds that trimmed their distributions this week losing more than 12-14% of their premiums in two days.
- Have discounts peaked? NAVs continue to power higher, though at a decreasing rate (last week actually reversed the trend with a stronger move up).
For further details see:
CEF Weekly Commentary Sept. 5, 2021: Have Discounts Peaked?