Tax edge makes munis attractive even as discounts shrink
The NAVigator · Active Investment Company Alliance
July 23, 202110m 37s
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Show Notes
Patrick Galley, chief investment officer at RiverNorth Capital Management -- which runs four municipal bond closed-end funds that invest in both individual bonds and in other muni closed-end funds -- says that as tax-equivalent yields in the muni space have become relatively attractive, the supply-demand picture has changed, narrowing discounts. That doesn't diminish the tax edge provided by the bonds, but makes selective buying critical for investors looking for tax advantages now.