- We review CEF market valuation and performance through the fourth week of January and highlight recent market action.
- CEF discounts recovered this week after what looked like retail capitulation and despite NAVs moving lower on the week.
- Investors can sometimes be swayed by the optics of 5-10% discount compression however intelligent bargain hunting requires a few more steps.
- We rotated from terms CEFs to perpetual CEFs this week in our tax-exempt allocation to take advantage of a number of new opportunities.
- We also highlight a number of market developments such as the new PIMCO fund PAXS, preferred CEF sector valuations and more.
For further details see:
CEF Weekly Market Review: What It Means To Be A Bargain