CHICAGO----Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that 111 Nuveen closed-end funds had declared regular monthly distributions.
CHICAGO----Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that 124 Nuveen closed-end funds had declared regular monthly distributions.
CHICAGO----Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that 109 Nuveen closed-end funds had declared regular monthly distributions.
Recently Nuveen announced it will change the way 16 of its Municipal Bond funds leverage their holdings by partially replacing Auction Rate Preferreds (ARPs) with MuniFund Term Preferred (MTPs). They are likely to continue this trend across all of their municipal bond funds, at least until a more viable structure can be developed. Replacing floating rate leverage with 5 year fixed costs may hinder their ability for future dividend increases, however it will give more stability to their funds dividends when short rates rise and the effects of ARP penalty rates are measured in full...
Somehow I missed this but that doesn’t mean anything, I miss a lot of things. So if you’re up to speed on the government providing reinsurance for municipal bonds then skip this post.
If not, here is a little blurb I found on Fox Business:
In the fourth quarter of 2008, the municipal bond market collapsed along with the rest of the credit markets. Lately there has been a small revival. Still, depressed bond prices and wide spread credit concerns leave open big opportunities for investors in the new issue and secondary market, if you know where to look.
Long maturity tax exempts on average now yield 130% of comparable Treasury bonds and that’s before the exemption benefit. A portion of that differential may be attributed to what many have termed artificially low Treasury rates. Not that long ago, exempt yields averaged 75% of...
Summary: Based on historical closed-end fund (CEF) income-only distributions, CEFs may have a further 20% to fall prior to reaching their 1990 yield levels. Current yields have begun to reflect the likelihood of further dividend cuts. CEFs have historically cut dividends in post recession troughs (1991 and 2001) (see second chart).
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