Nuveen Municipal Credit Price, Forecast, Insider, Ratings, Fundamentals & Signals

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.

New york--(business wire)--as previously announced on april 10, 2023, john v. miller effective today is no longer a portfolio manager for nuveen municipal high income opportunity fund (nyse: nmz), nuveen taxable municipal income fund (nyse: nbb), nuveen municipal credit opportunities fund (nyse: nmco), and nuveen dynamic municipal opportunities fund (nyse: ndmo). there are no additional changes to the portfolio management teams, which are as follows: daniel close and stephen candido continue to.

New york , april 10, 2023 /prnewswire/ -- effective immediately, portfolio manager responsibilities for nuveen municipal high income opportunity fund (nyse: nmz),  nuveen taxable municipal income fund (nyse: nbb), nuveen municipal credit opportunities fund (nyse: nmco), and nuveen dynamic municipal opportunities fund (nyse: ndmo) have been updated.

Nuveen Municipal Credit Opportunities Fund and Nuveen Municipal High Income Opportunity Fund have experienced significant declines since 2021. Both funds aim to provide high current income exempt from federal income tax and seek total return. The future performance of the funds is uncertain due to the unpredictability of interest rates, but the FOMC does not anticipate a return to ultra-low rates.

Taxable closed-end fund discounts have narrowed, reducing their attractiveness, while credit spreads have tightened, producing returns in some areas of the CEF market. Municipal CEFs remain exceptionally cheap, with discounts wider than 99% of historical observations. The risk-reward in the taxable bond CEF space is on the downside, while the upside potential in municipal CEFs is significant, but dependent on a shift in Fed policy and inflation.

Tax-exempt municipal bonds have had a tough ride since 2022; however, the sector enjoys a number of current and upcoming tailwinds. These tailwinds include a stabilization and likely increase in net income once the Fed starts to reverse the policy rate, likely further gains in the NAV and historically wide discounts.

2 out of 23 CEF sectors positive on price and 4 out of 23 sectors positive on NAV last week. DEX will merge with AGD.

0 out of 23 CEF sectors are positive on price and 0 out of 23 sectors are positive on NAV over the last week. BlackRock CEFs are repurchasing their shares.

Munis are giving us a chance to own them again at some compelling discounts relative to long-term valuations.

For the second month in three, equity CEFs on average witnessed negative returns, falling 2.61% on a NAV basis for November.

Tax-exempt municipal yields have trended down since the start of the year on the back of strong demand from investors and lower Treasury yields.

We review CEF market valuation and performance over the past week and highlight recent events. CEF prices stalled in July on the back of lower risk sentiment driving discounts wider.

The municipal sector has remained resilient this year despite a rise in Treasury yields.