PCF News and Press, High Income Securities Fund From 09/29/20

For 94 years, the "average, annual" return for large-cap stocks, which per the Ibbotson data is the S&P 500, is above 10%, and probably closer to 12%. The only return period that matched or roughly approximates the 103-year average, annual return for the S&P 500 is the decade ...

The bond markets are in the midst of a feeding frenzy. U.S. high-yield bond sales reached an annual record of $329.8 billion for the year, with three months left to go. The high yield's market's record year follows the U.S. investment-grade bond market, which reached a new record ...

Coming into COVID-19, a chunk of client bond money was in higher yielding money markets since credit spreads (in my opinion) offered little value prior to March 2020. After the 35% correction in the S&P 500, and upon the announcement of the Fed liquidity programs, all that money w...

In U.S. high yield bonds we find the riskiest of credits. I have some concerns about municipal bonds and am particularly concerned about municipal pension bonds. Our 'Borrower's Paradise' is also good news for many leveraged ETFs and closed-end funds. For further details see...

As previously announced, High Income Securities Fund, Inc. (NYSE: PCF) (the “Fund”) intends to make monthly distributions at an annual rate of at least 10% per annum (or 0.8333% per month) as long as the Fund continues to be a registered investment company. The distributions for...

I have long described our current investing environment as a "Borrower's Paradise" and a "Fixed-Income Investor's Hell." The situation has not changed and continues along unabated. The reason for this is really just one thing, the Fed. The reason for their posture is also just really one thing...

The S&P 500 may have broken out above its February highs back in late August and still remains above February's highs after Monday's advance, but performance in the high yield market hasn't been quite as strong. The chart below shows the B of A High Yield Master Index on a total return b...

The name of the bond market game since COVID-19 hit, if it can be summarized in one sentence, is that "credit spread assets continue to make sense". This graph from PIMCO was in their asset allocation outlook held for retail investors the last few weeks, and I think it did a good job highlig...

By Scott DiMaggio and Gershon Distenfeld Low yields plus rising defaults seemingly leave little ground for bond investors seeking safety or income - or both. But for investors who remain flexible, these objectives aren't as distant as many think. Markets Didn't Stay Down for Long March...

By Alessio de Longis, CFA, Senior Portfolio Manager, Invesco Investment Solutions By and large, recent global economic data releases have shown signs of stabilization as most economies have begun the reopening process, confirming our Recovery regime initiated in June. Our macro reg...