The Last Safe Haven: Monthly Tax-Free 5% Yields, No K-1s [Seeking Alpha]
Western Asset Municipal Partners Fund, Inc. (MNP)
US:NYSE Investor Relations:
leggmason.com/en-us/products/closed-end-funds/western-asset-municipal-partners-fund-inc.html
Company Research
Source: Seeking Alpha
The Last Safe Haven: Monthly Tax-Free 5% Yields, No K-1s Summary The major indexes fell more than -3% Wednesday, 8/14/19. This sub-sector was up that day and has beaten the market in all three recent pullbacks. The nominal tax-free yields are 4.5% - 4.8%, which are equivalent to ~6% to over 7%, and higher, depending upon your tax bracket. Looking for a safe haven from the latest market turbulence? No worries, you're not alone - after Wednesday's bloodbath, which saw all three major indexes lose more than 3%, we went looking for more pullback fighters - safe havens where an income investor could earn a decent yield. These closed-end funds focus on US-based municipal debt, and, thanks to the reversal of interest rate hikes, they've been enjoying quite a comeback, particularly since the Q4 '18 market pullback, where the S&P 500 lost more than -20%. MNP NVG MNP has a much smaller market cap, at ~$150M, vs. $3.36B for NVG. NVG yields 4.76%, while MNP yields 4.45%. However, there's a useful
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