- We had another down week nearly across all asset classes with the markets shedding nearly 3% and the Nasdaq nearly 4%. Fixed income was also down. Nothing worked.
- Yields were up again with the 10-year touching 2.95% on the week but finishing at 2.90%. Oil was down $5 to $101/bl and the VIX was up again to 23.
- Discounts in muni CEFs tightened up back to the levels of a few weeks as NAVs fell hard towards prices. Equity/taxable CEF discounts haven't budged in April.
- Top buys and sells of the week below.
For further details see:
Weekly Yield Hunting CEF Commentary - April 24, 2022