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Municipal bond closed-end funds (CEFs) are seeing narrowing discounts, with NXP and MHF offering the most compelling value in the space at present. Leverage costs are easing as the Fed cuts rates, which should improve distribution coverage and make leveraged muni CEFs more attractive. Of course, there are always risks that include increased volatility from leverage and sensitivity to long-term Treasury rates, but we've seen long-term rate stabilization within a fairly narrow range.
Municipal bonds offer tax-free income at the federal level and are particularly beneficial for high-income taxpayers, especially those in New York due to state-specific tax advantages. The Nuveen New York Quality Municipal Income Fund provides a substantial tax-equivalent yield, making it an attractive option for New York residents seeking consistent, tax-free income. The fund's long maturity exposes it to interest rate risk, but its diversification across 170 positions mitigates credit risk from individual municipal defaults.
Markets were flat, but upcoming events like the jobs report, PMIs, and ECB meeting are important.
NEW YORK--(BUSINESS WIRE)--Nuveen Closed-End Funds today announced that the Board of Trustees of the Funds has approved the regular monthly and quarterly distributions. In addition, the Board of Trustees has approved updated distribution polices described below under “Monthly & Quarterly Distributions” for The Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), Nuveen Preferred and Income Term Fund (NYSE: JPI), Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD), Nuveen.
Gunmen have abducted seven students of the University of Jos, according to the police. DSP Alfred Alabo, Public Relations Officer of the Plateau State Police Command, confirmed the incident to the News Agency of Nigeria (NAN) on Wednesday in Jos. According to Alabo, the students were abducted on Monday night from their hostel located outside … The post Gunmen abduct 7 UNIJOS students appeared first on Warri Tatafo...
Armed men have abducted a seven-year-old girl in Yangoji village, Kwali Area Council of the Federal Capital Territory (FCT). Mr Suleiman Musa, a resident of the village told the News Agency of Nigeria (NAN) in Abuja that the hoodlums invaded the community in the early hours of Wednesday. He said the hoodlums invaded the village ... Read more The post Gunmen abduct 7-year-old girl in Abuja community appeared first on Warri Tatafo...
Following the removal of fuel subsidy, Pastor OlorunLeke Mathew of Christ Life Church, Ilorin, has admonished religious leaders to empower and be responsible to their members. Mathew, on Saturday in an interview with the News Agency of Nigeria (NAN), said religious leaders should empower their followers through financial support, food support and palliatives to help ... Read more The post Fuel subsidy: Empower your members – Cleric tells religious leaders appeared first on Warri Tatafo...
Mr Nura Rimi, Nigeria’s ambassador to Egypt, said Nigeria is being accorded top priority by the Egyptian government in the granting of evacuation approval for its citizens fleeing Sudan.Rimi told the News Agency of Nigeria (NAN) on Thursday that the feat was achieved because of the cordial relations between both countries. The outbreak of violence ... Read more The post Sudan: Egypt giving priority to Nigeria in evacuation approval – Nigerian ambassador appeared first on Warri Tatafo...