EDF News and Press, Stone Harbor Emerging Markets Income Fund of Beneficial Interest From 02/14/23

Summary 17 out of 22 CEF sectors positive on price and 18 out of 22 sectors positive on NAV last week. RSF offering results. DEX tender offer expires. A new corporate actions tracker for our members. Author’s note: This article was released to CEF/ETF Income Labor...

Summary With an almost 60 trillion-dollar sovereign debt market, the case for ESG integration remains unclear. Market practices that target the reduction of aggregate ESG risk may have the perverse impact of increasing funding gaps and thus decreasing the effectiveness and impact of sov...

Summary For the third month in four, equity CEFs (+5.60% on a NAV basis) on average witnessed positive performance. While their fixed income CEF cohorts (+4.08%) posted gains for the second month in three. At month end, 18% of all CEFs traded at a premium to their NAV, with 22% of e...

Summary EM could be fairly characterized as having low debt and market-based yields, in contrast to higher-indebted and lower-yielding DM countries. EM’s improved fundamentals deserve a special focus as regards net external creditor status. EM is filled with net external creditor...

Summary Emerging markets have weathered tightening financial conditions. We now see a relatively good backdrop for EM assets as EM rates peak and China reopens. Stocks added to gains and bond yields fell as markets priced in Federal Reserve rate cuts later in 2023. We don’t think...

Summary 21 out of 22 CEF sectors were positive on price and 20 out of 22 sectors were positive on NAV last week. MLPs are the most discounted CEF sector. Real estate and senior loans are the highest-yielding CEF sector. Author's note: This article was released to CEF/ETF...

Summary As central banks battled inflation, interest rates soared and recession fears mounted. Now, central banks must slow their pace of tightening and carefully calibrate a soft landing. We address the challenges of a global slowdown, the benefits of higher yields and strategies f...

Summary ESG factors have been widely used as a set of criteria in a manager’s risk assessment toolkit. Making the wrong call with respect to ESG can sometimes mean excluding certain sectors based on these considerations alone. ESG factors are part of the global risk complex a...

Summary The transition to net-zero emissions has become one of the key drivers that will define the global economy over the decades to come. The Paris Agreement and national climate change plans anticipate a gradual transition to a low-carbon world – not an overnight switch to ze...

Summary The credit cycle and the economic cycle are excellent leading indicators of volatility. Both are likely to continue deteriorating in the months ahead. As such, expect high stock market volatility to be a mainstay for 2023. High Volatility Set To Continue Eq...