TY News and Press, Tri Continental Corporation From 07/12/20

The Shanghai Composite surged 7.3% this week, increasing y-t-d gains to 10.9%. The CSI 300 rose 7.6%, with 2020 gains of 16.0%. China's growth-oriented ChiNext Index's 12.8% surge boosted year-to-date gains to 54.5%. Copper jumped 7.1% this week. Aluminum rose 4.6%, Nickel 4.0%, Zinc 8.3%, Sil...

As we head into the second half of the year, the swift recovery many were hoping for is facing an uncertain future. The resurgence of the COVID-19 virus and concerns about dwindling fiscal support have many worried. I submit that even in the absence of these worries, the recovery would still b...

"U.S. Stocks Finish Best Quarter in More Than 20 Years" - yet another extraordinary period worthy of documenting in some detail. The S&P 500 returned 20.5%, led by energy companies Halliburton (HAL) (up 89.5%) and Marathon Oil (MRO) (86.2%). The Dow Jones Transports returned 19.2%, with Av...

The much vaunted "V" recovery is improbable. To simplify, a somewhat "W"-looking scenario is a higher probability. After such an abrupt and extraordinary collapse in economic activity, a decent bounce was virtually assured. Millions would be returning to work after temporary shutdowns to a sub...

It didn't take long. Over the last several years, we have discussed the risk of excessive monetary policy inflating a bubble in a variety of assets from debt, to real estate, to stocks. In March, it appeared as if the bubble had finally popped. However, the Fed's quick response and massive mon...

Can we even attempt a reasonable discussion? Someone's got this wrong. June 12 - Reuters (Judy Hua, Cate Cadell, Winni Zhou and Andrew Galbraith): "A Beijing district put itself on a 'wartime' footing and the capital banned tourism and sports events on Saturday after a cluster of novel coro...

Tri-Continental Corporation (the “Corporation”) (NYSE: TY ) today held its 90 th Annual Meeting of Stockholders (the “Meeting”) in Minneapolis, Minnesota. Stockholders voted in favor of the recommendations of the Corporation’s Board of Directors (the ...

Author's note: This article was released to CEF/ETF Income Laboratory members on June 8, 2020. Please check latest data before investing. The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors in t...

Market Correction As I wrote previously , the break above the 200-dma had changed the complexion of the market. "If the markets can break above the 200-dma, and maintain that level, it would suggest the bull market is back in play. " However, in our Tuesday follow up, we disc...

In its earliest years, the Discount Window wasn't something to be avoided at all costs, it was nearly the whole point. In order to supply largely seasonal liquidity, the word "discount" meant banks could show up at one of the local 12 Fed branches and post collateral for an increase in their r...