CEF Market Weekly Review: Muni And Loan CEF Incomes Diverge

We review the CEF market valuation and performance through the third week of April and highlight recent market action. CEFs had a strong week in response to positive news relating to the Iran conflict with MLPs underperforming. Loan CEFs face NII pressure from falling short-term rates, with funds like VVR, FCT, FRA, and BGT most vulnerable to distribution cuts as they haven't already adjusted.