Morgan Stanley Emerging Markets Debt Fund

The full company name is Morgan Stanley Emerging Markets Debt Fund, Inc.

Blackrock Income Trust

BlackRock Enhanced Government Fund

Federated Premier Municipal Income Fund

We review the CEF market valuation and performance through the second week of December and highlight recent market action. CEFs mostly declined this week due to a 0.25% rise in 10-year Treasury yields, with only the loan sector showing a slight NAV gain. The BlackRock Enhanced Government Fund (EGF) will merge into BlackRock Income Trust (BKT); high-quality funds like these are not ideal in CEFs.

CEF Weekly Review: The Difficulties Of High-Quality CEFs

NEW YORK--(BUSINESS WIRE)--Morgan Stanley Investment Management today announced that, effective immediately, the Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE: MSD) (the “Fund”) is no longer limited to investing up to 35% of its total assets in debt securities of corporate issuers located in or organized under the laws of emerging countries. The Fund's primary investment objective is to produce high current income and as a secondary objective, to seek capital appreciation. The Fund seek.

Morgan Stanley Emerging Markets Debt Fund, Inc. Announces Updated Investment Disclosure

Morgan Stanley Emerging Markets Domestic Debt Fund Inc

Morgan Stanley India Investment Fund Inc

NEW YORK--(BUSINESS WIRE)--Each of the Morgan Stanley closed-end funds listed below (the “Funds”) today declared the following dividends. RECORD DATE PAYABLE DATE 12/13/24 1/15/25 Name of Closed-End Fund     NYSE Ticker     Net Investment Income Per Share     Short-Term Capital Gains Per Share   Long-Term Capital Gains Per Share Morgan Stanley Emerging Markets Debt Fund, Inc. MSD $0.265* (Quarterly) -- -- Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. EDD $0.16* (Quarterly) -- -- Morg.

Certain Morgan Stanley Closed-End Funds Declare Year-End Dividends

NEW YORK--(BUSINESS WIRE)--Each of the Morgan Stanley closed-end funds listed below (the “Funds”) today declared the following dividends. RECORD DATE PAYABLE DATE 9/30/24 10/15/24     Name of Closed-End Fund NYSE Ticker Net Investment Income Per Share Morgan Stanley Emerging Markets Debt Fund, Inc. MSD $0.22 Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. EDD $0.135 The amount of net investment income to be paid by the Funds is determined in accordance with federal income tax regulatio.

Certain Morgan Stanley Closed-End Funds Declare Quarterly Dividends

MS Emerging Markets Debt Fund offers a high yield of 11.44%, providing income-focused investors with significant current income and diversification from U.S. market risks. The MSD closed-end fund has outperformed benchmarks, delivering an 8.22% total return over three months, supported by favorable emerging market bond conditions and strategic trading. The fund's distribution is fully covered by net investment income, ensuring sustainability.

MSD: Very High, Fully-Covered Yield But No EM Currency Exposure

The Morgan Stanley Emerging Markets Debt Fund is the second-highest-yielding fund in its category, offering an 11.63% yield. The fund's price performance over the past five years has been disappointing, but it has outperformed its benchmark index and other peers. The fund primarily invests in sovereign and quasi-sovereign debt securities, with a focus on government obligations, providing some peace of mind for investors.

MSD: Emerging Markets Exposure And A Fully Covered 11.63% Yield

MSD is a closed-ended fixed-income fund focused on emerging markets, aiming for high income and some capital appreciation. The fund has a long history but a small size due to poor performance in EM bonds in the past decade. It has been a better performer compared to other long-standing EM debt closed-end funds, with less volatility and risk.

MS Emerging Markets Debt Fund Review: Emerging Market Bonds Outlook 2024

BlackRock Taxable Municipal Bond Trust

BlackRock Enhanced Equity Dividend Trust

BlackRock Floating Rate Income Trust

Morgan Stanley China A Share Fund Inc

Blackrock Debt Strategies Fund Inc

Eaton Vance Municipal Income 2028 Term Trust

First Trust Mortgage Income Fund

Blackrock Floating Rate Income Strategies Fund Inc

Templeton Global Income Fund

Western Asset High Income Fund

Western Asset High Yield Defined Opportunity Fund Inc

Western Asset Investment Grade Defined Opportunity Trust

Nuveen Mortgage Opportunity Term Fund

Deutsche Municipal Income Trust

Nuveen Municipal Credit Opportunities Fund

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

PIMCO Access Income Fund

Putnam High Income Securities Fund

PIMCO Income Strategy Fund II

Franklin Templeton Emerging Markets Income Fund

Stocks were up slightly as the jobs report shifted the narrative towards 'higher for longer.' The payroll report came in stronger than expected, but the narrative was that it was a hawkish report, meaning higher rates for longer. Discounts for CEFs continue to tread water, with real estate and interest rate-sensitive bond sectors performing well, while emerging market equity and convertibles performed poorly.

CEF Weekly Commentary | December 10, 2023 | High Quality Opportunities

The Morgan Stanley Emerging Markets Debt Fund invests in sovereign bonds and corporate debt in emerging markets. The fund has outperformed EM benchmarks this year, highlighting the attraction of the actively managed CEF strategy. We see EM debt as well-positioned to continue delivering positive returns with the fund also offering a compelling 11% yield.

MSD: 11% Yield From An Outperforming EM Bond Fund

MS Emerging Markets Debt is a fixed income closed end fund. The vehicle focuses on emerging markets, more specifically on hard currency EM debt.

MSD: Get A 9.7% Yield From This Emerging Markets Debt Fund

Apollo Senior Floating Rate Fund

Apollo Tactical Income Fund, Inc.

BlackRock 2037 Municipal Target Term Trust

We review CEF market valuation and performance through the fourth week of March and highlight recent market action. CEFs were relatively flat on the week; however, discounts continued to mostly push wider, offsetting NAV gains.

CEF Weekly Review: Should CEF Investors Pivot When The Fed Does?

American Century Emerging Markets Bond ETF

Invesco BulletShares 2022 USD Emerging Markets Debt ETF

Invesco BulletShares 2023 USD Emerging Markets Debt ETF

Invesco BulletShares 2024 USD Emerging Markets Debt ETF

VanEck China Bond ETF

iShares J.P. Morgan EM Corporate Bond ETF

SPDR Bloomberg Emerging Markets Local Bond ETF

Virtus Stone Harbor Emerging Markets Income Fund 

Stone Harbor Emerging Markets Total Income Fund

WisdomTree Emerging Markets Local Debt Fund

VanEck Vct Emrg Shs

iShares JP Morgan USD Emerging Markets Bond ETF

Global X Emerging Markets Bond ETF 

WisdomTree Emerging Markets Corporate Bond Fund

Western Asset Emerging Markets Debt Fund

iShares Emerging Markets High Yield Bond ETF

VanEck J.P Morgan EM Local Currency Bond ETF

SPDR DoubleLine Emerging Markets Fixed Income ETF

First Trust Emerging Markets Local Currency Bond ETF

VanEck Emerging Markets High Yield Bond ETF

JPMorgan USD Emerging Markets Sovereign Bond ETF

KraneShares Asia Pacific High Yield Bond ETF

iShares J.P. Morgan EM Local Currency Bond ETF

Invesco Emerging Markets Sovereign Debt ETF

Vanguard Emerging Markets Government Bond ETF

In emerging markets valuations look attractive today after the losses across financial markets early this year. PIMCO's investment process is founded upon our macroeconomic outlook and our in-house country and credit research.

Spotting Opportunities And Risks Across The EM Investment Universe

NEW YORK--(BUSINESS WIRE)--Morgan Stanley Investment Management announced today a portfolio management change for Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE: MSD) and Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (NYSE: EDD) (the “Funds”). The Funds are managed by the Emerging Markets Debt team of Morgan Stanley Investment Management Inc. (the “Adviser”). The team consists of portfolio managers and analysts. The current members of the team jointly and primarily responsible

Morgan Stanley Investment Management Announces Portfolio Management Change for Morgan Stanley Emerging Markets Debt Fund, Inc. and Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Aberdeen Standard Global Infr Inc Fd

Bancroft Fund Ltd

PIMCO Energy and Tactical Credit Opportunities Fund

TCW Strategic Income Fund

Vertical Capital Income Fund.

Discounts widened a bit but remain very tight relative to historical comparisons going back to 1996. Munis are now in line with taxable avg. premiums. At this time, a counter-cyclical approach is warranted. I have been advocating rotating from leveraged, junkier, and discount susceptible structures to open-end funds.

CEF Report September 2021 | A Broken Record

Aptus Collared Income Opportunity ETF

Aberdeen Income Credit Strategies Fund

Calamos Long/Short Equity & Dynamic Income Trust

Eaton Vance Risk-Managed Diversified Equity Income Fund

First Trust Senior Floating Rate Income Fund II

Flaherty & Crumrine Total Return Fund Inc

First Trust Intermediate Duration Preferred & Income Fund

Miller/Howard High Income Equity Fund

Pimco California Municipal Income Fund II

Virtus InfraCap U.S. Preferred Stock ETF

Global X U.S. Preferred ETF

Putnam Premier Income Trust

Principal Spectrum Preferred Secs Active ETF

The major equity indices had their worst week since early January - mostly on inflation concerns and a hawkish FOMC that signaled an increase in rates may come sooner than expected. On Friday, stocks took another leg lower after St. Louis Fed President James Bullard said that he expects the Fed's first rate hike in late 2022.

CEF Weekly Commentary | June 20, 2021

iShares Interest Rate Hedged Emerging Markets Bond ETF

ProShares Short Term USD Emerging Markets Bond ETF

SPDR SSGA Fixed Income Sector Rotation ETF

Krane Shares Trust - KraneShares CCBS China Corporate High Yield Bond USD Index ETF

KraneShares E Fund China Commercial Paper ETF

Emerging markets offer attractive alternatives to fixed income investors searching for yield amid the trillions of dollars of negative-, zero-, and low-yielding debt globally. Within emerging market hard currency investment grade bonds, we think it is prudent to be shorter duration or at least hedge the Treasury risk component, given the low yield per unit of duration today.

3 Segments, Multiple Opportunities In Emerging Markets

Emerging Markets are considered an opportunistic investment opportunity right now. With few other attractive opportunities in the bond CEF market at present and offering a 12.1% discount to NAV, MSD could be an attractive portfolio diversifier.

MSD: Emerging Markets Outperformer Trading At A 12.1% Discount To NAV

I like to go over closed-end funds and look for attractive discounts to net asset value.

MSD: Interesting Closed-End Fund At A 15% Discount To Net Asset Value With A 4.45% Distribution

Eaton Vance Senior Floating Rate Fund

These CEF Sector Distributions Are Holding Up

News for Morgan Stanley Emerging Markets Debt Fund ETF (MSD)