We Continue to Add to This 10%-Yielding Resi Mortgage Fund
In this post, we take a look at the Western Asset Mortgage Defined Opportunity Fund (DMO), trading at a 10% current yield and a 9.6% discount to NAV. The allocation …
Wild CEF Flows Generating Outsized Switch Returns For Investors
This is an extract from an earlier article at Systematic Income Premium. In this post we highlight how unusually elevated volumes are allowing some investors to lock in gains that are worth …
Why Municipal Bonds Offer Value Right Now
In this quick post we highlight how attractive Municipal Bond valuations are in the current environment. The S&P Municipal Bond Index yield is close to its 10-year high. Muni/Treasury Ratios …
Is the Pain Over For CEFs?
A good question is whether the CEF market behavior of the last few weeks can be described as capitulation. Capitulation can be a useful market dynamic to gauge because it …
Are Your CEFs Hedging Rising Leverage Costs?
Sharply rising short-term rates remain one of the key themes of the income space. For CEF investors the most direct impact of this development will be via higher leverage costs …
CIK: A Cheap Bond Fund Outperformer With A 9.7%-Yield
In this post we highlight the Credit Suisse Asset Management Income Fund (CIK) trading at an 8% discount and a 9.7% current yield. CIK has been the best or nearly …
How To Correctly Parse ETF vs. CEF Performance Results
Through the second half of 2021 we continued to see the usual pitch for CEFs that compares their performance against open-end funds like ETFs or mutual funds. We often see …
ARDC: 8.15%-Yielding Outperformer To Benefit From Rising Rates
When we first highlighted the Ares Dynamic Credit Fund (ARDC) on our premium service last week it was trading at a 8.6% yield. Since then, its price has risen smartly …
DSL: A 7.9% Yielder Now Worth A Look
Emerging Market Debt has become relatively attractive in the last few months due to worries about the global economy holding up as well as the impact of rising US rates …
WDI: A 7.5% Yield Multi-Sector Entrant From Franklin Templeton
The Western Asset Diversified Income Fund (WDI) is a recently launched multi-sector credit fund. It has a 1.10% fee which is quite steep in the credit space. Unfortunately, the trend …