Introduction
The municipal bonds impressed us with their performance in 2019. Since November 2018, the sector increased its price significantly. Of course, one of the main reasons was the policy of the central bank of the United States and, more specifically, the interest rate decreases which gave a positive impulse to the fixed-income instruments. As you are going to see in our article, the sector reported another positive week, and the CEFs from the area continue to be traded at relatively high Z-scores. Therefore, we are not aggressive in our long positions and are very