The gummint has saved Social Security by outlawing inflation. Since inflation is now defined to be zero, they will never have to provide cost of living increases again, which will save quadrillions of dollars in the long run. It's brilliant.
On a less sarcastic note, I noticed that PMF (Pimco Municipal Income Fund) dropped by almost 6% today. And I have no idea why. In theory, tax-free municipals should be in great favor now, since they retain their tax-free status while taxes on other bonds will be rising. Any theories? New fears of default by munies?
Almost all CEFs got beaten up real badly on Thursday, and recovered alot on Friday. Look at the NAV for PMF. Should come up with the symbol XPMFX. A better indication of its true value as many CEFs declined much more than the NAV did on Thursday, Nov. 15th.