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I should say 'for me' the investor. Each day after the market closes, Nuveen posts the price/NAV for my CEF's. They both change every day. And they post the price 'discount', or 'premium' to NAV. The NAV is different every day. It doesn't stay 'unchanged' for some period of time, waiting for 'int. rates' to change and then undergo some large NAV change.

You are incorrect. Interest rates do not wait for the FOMC to make a move. They *DO* in fact change constantly to reflect new information, investor sentiment, corporate fundamentals, etc.

The Fed controls some rates; the market controls most. And the market is a constantly moving beast that is not content to let rates remain fixed for long periods and then make a big move.

Acme
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