PCK: The Discount To NAV Is Not Enough To Remain Bullish (Rating Downgrade)
PCK
Seeking AlphaAugust 17, 2023
PIMCO California Municipal Income Fund II has struggled throughout 2023 despite a widened discount to NAV. The fund's inability to attract buyers at its discounted price is a cause for concern. Income metrics from PCK are alarming, raising doubts about the sustainability of its income stream.
PCK: Pay Attention To Duration, Tech And The Debt Ceiling
PCK
Seeking AlphaApril 10, 2023
PIMCO California Municipal Income Fund II has high duration, which works on a rate pivot, but it's quite aggressive in that regard. Furthermore, as far as financing conditions for municipalities go, there's been less demand for munis as there's a decent amount of high-yield stuff, and debt ceiling concerns are real.