Introduction
The closed-end funds from the high-yield sector continue with their solid performance. The first days of 2020 were very positive for the benchmark of the sector. The closed-end funds which invest in high-yield bonds did not impress us with their performance but most of them left in green territory. We continue to be more cautious and more defensive with the CEFs from the area because they are traded at relatively high Z-scores which a signal for lack of statistical edge. Market focus is largely attuned to global trade developments as the expectations are this