Eagle Point Income Company: Wait for Fed Rate Cuts to Rotate In

Eagle Point Income Company Inc (EIC) is a closed-end fund that invests in junior debt tranches of collateralized loan obligations (CLOs) to provide current income. Despite recent market volatility, it's still too early to rotate into EIC, and investors should wait until the Federal Reserve has finished cutting interest rates before investing. EIC's current yield is around 12.5%, which is attractive, but investors should be cautious given the risks associated with CLOs and the potential impact of a recession on the fund's performance.