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Summary Recent market volatility has opened up valuation divergences between very similar CEFs, creating opportunities for switches or outright holds. This offers income investors an opportunity to pick up additional yield, adopt a more defensive stance and generate alpha in their...
Summary We review CEF market valuation and performance through the fourth week of August and highlight recent market action. CEFs had a second down week, after a solid rally over the previous month. We look at a liquidating term fund EFL to see how its NAV has performed over a...
The first half of the year has been a tough one for income assets, however, the pain has also delivered a stronger yield environment for income portfolios. We discuss the landscape for income assets with respect to compensation for taking credit and duration risk. And highlight wh...
We review CEF market valuation and performance through the last week of June and highlight recent market action. Higher-quality CEFs had a decent week, supported by the continued fall in Treasury yields while equity funds struggled. We discuss why discounts matter more from an inc...
The revised long-term outlook projects an annualized return of 4.9%. The current risk premium forecast for GMI suggests that multi-asset-class strategies overall will generate lower returns relative to results posted in recent years. Combining forecasts via several models may prov...
Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top DxY funds are BWG, HFRO and EHI. For further details see: The 'High-High-Low' Closed-End Fund Repo...
The expected risk premium continued sliding in April for the Global Markets Index (GMI). Tuesday’s revision reflects a drop to a 5.4% annualized increase for the long term – a relatively large cut of 40 basis points from last month’s estimate. The forecast ref...
Only funds with yields over 6.5%, coverage higher than 85%, and trading at under a +5% premium are considered. Top lists of discount, yield, DxY, and DxYxZ are given. The top DxY funds are HIX, EMD, and DLY. For further details see: The 'High-High-Low' Closed-End Fund Re...
The expected risk premium for the Global Market Index ticked slightly higher in March to an annualized 5.8% pace, fractionally above last month’s estimate. Using short-term momentum and medium-term mean-reversion market factors (defined below) to adjust the forecast trims GMI...
CIK is a closed end fund focused on fixed income. With a moderate leverage of 26.2%, the fund "primarily invests in high yield fixed income securities that are in the lower ratings categories of Moody’s Investors Service". On a 5-year basis CIK has outperformed si...
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Credit Suisse High Yield Bond Fund Company Name:
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2024-04-04 05:00:56 ET It’s no secret that corporate bonds are booming. But what might come as a surprise to some folks is that we’re not too late to get in. Through a group of well-run closed-end funds (CEFs) , we can still tap big corporate-bond yields at a discount....
Shares of Credit Suisse High Yield Bond Fund (NYSE American:DHY) traded at a new 52-week high today of $2.57. Approximately 354,000 shares have changed hands today, as compared to an average 30-day volume of 595,000 shares. Credit Suisse High Yield Bond Fund is a non-diversified, closed-...
Shares of Credit Suisse High Yield Bond Fund (NYSE American:DHY) traded at a new 52-week high today of $2.53. Approximately 167,000 shares have changed hands today, as compared to an average 30-day volume of 1.3 million shares. Credit Suisse High Yield Bond Fund share prices have moved b...