Nuveen Select Maturities Municipal Fund

NIM

Market cap $118M

JPM, BAC, C, WFC & KEY slide as the Fed holds rates at 3.5-3.75% and flags higher inflation, signaling a tough near-term outlook for banks' financial performance.

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.

Visa leads Zacks' top analyst reports as strong volume growth, cross-border gains and digital payments strength highlight its outlook.

The Fed raises the inflation target and cuts growth projections due to Trump's tariffs, dimming the outlook for banks like JPM, BAC, C, CMA and KEY.

Most tax-advantaged and tax-exempt funds are not appealing to us due to low yields or high leverage. Nuveen Select Maturity Municipal Fund focuses on tax-exempt income and capital preservation, investing at least 80% in municipal securities exempt from federal tax. The fund's lack of leverage is rare in municipal CEFs, making it suitable for our conservative investment community.

We review the CEF market valuation and performance through the second week of February and highlight recent market action. Most CEF sectors rose, driven by tighter credit spreads and higher stocks, with EM Equity and Preferreds leading month-to-date gains. Virtus Total Return Fund's tender offer resulted in a high 31% pro-ration factor, generating a 6% annualized alpha, highlighting its generous buy-back terms.

We discuss key Muni themes, including tariffs, federal funding freeze, tax exemption, and more. Muni valuations remain attractive, particularly the value of the tax exemption. We highlight the four Muni buckets where we see value.

NEW YORK--(BUSINESS WIRE)--Today, the Nuveen Select Maturities Municipal Fund (NYSE: NIM) has declared an additional cash distribution with the record, ex-dividend and payable date outlined below. The following dates apply to today's distribution declaration for the following municipal closed-end fund: Record Date   December 13, 2024 Ex-Dividend Date   December 13, 2024 Payable Date   December 31, 2024 Taxable Per Share Distribution Amount Short-Term Long-Term Ticker Exchange Fund Name Capital.

Mortgage REITs (mREITs) are becoming more attractive due to reduced RMBS spreads, alleviated negative convexity, lower cost of capital, and a positive carry from an uninverted yield curve. The macro environment shift suggests strong 3Q24 earnings for mREITs, making common shares potentially opportunistic and bolstering preferred dividend payments. Despite historical weaknesses, mREITs like AGNC could be worth considering at moderate discounts, with potential trading opportunities around earnings releases.

NEW YORK--(BUSINESS WIRE)--Several Nuveen closed-end funds have declared distributions. These funds represent investment strategies for investors seeking diversified sources of cash flow to prepare for and sustain their retirement income needs. For further information regarding fund distributions, including earnings, undistributed net investment income, and notices, please visit www.nuveen.com/cef. Additionally, several funds have announced distribution increases of up to 71%. The distribution.