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Only 3% of all closed-end funds posted net asset value-based returns in the black in March with just 5% of equity CEFs and only 1% of fixed-income CEFs with returns in the plus column, says Refinitiv Lipper's Tom Roseen. More news on: Invesco CEF Income Composite Portfolio ETF, Cohen&...
"We penetrated deeper and deeper into the Heart of Darkness" - Joseph Conrad, Heart of Darkness At the beginning of 2020 I said that the New Year would be nothing like the last year. Things are playing out as predicted, with Coronavirus thrown in for good measure, and with devastating co...
Funds that allocate to other CEFs can be an attractive investment during periods of CEF market dislocation, providing a beta play on a normalizing market. In this article, we review different funds available to investors for such a broad-based CEF exposure. We don't think we have reached the...
The 10 year Treasury is at 1.47%. The 30 year Treasury bond is at an all time low yield of 1.92%. Just deal with it. Get over it. There ain't no yield in sight, and none is likely to show up anytime soon. The Fixed-Income markets have been flummoxed by the world's central banks and they n...
One of the factors in my estimation that will be a huge part of 2020 is the Heaven that has been created by the central banks of the world for Borrowers. We are still tracking approximately $14 trillion in negatively yielding debt and while this number is not currently at its high mark of $17 ...
We continue to live in a "Borrower's Paradise," Wonderland. That much is obvious with the 3 month Bill at 1.54%, the two year Treasury at 1.53% and the 10 year Treasury at 1.77%. Touting his bilateral trade deals and financial deregulation, at Davos, President Trump said that "we still have ...
The most problematic part of the markets at present, in my humble opinion, is the lack of yield. Basically, it just ain't nowhere to be found. We are in a "Borrower's Paradise" and a "Fixed-Income Investor's Hell." The real issue now is "Absolute Yield" and not "Relative Yield." Consider that ...
We continue to live in "Wonderland," I tell you. Alice is prating about and the Mad Hatter is hosting the tea party. The Red Queen is "off her head" and the major central banks have handed us flamingos to try to find yield while playing croquet. For American borrowers, I say, take what advan...
It had long come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things. - Leonardo da Vinci Well, there were plenty of things this year that you could happen to, if you so elected. There were actually some hist...
We continue to live in "Wonderland" I tell you. Alice is pratting about and the Mad Hatter is hosting the tea party. For American borrowers, I say, take what advantage that you can, because lower rates will mean more stock buy-backs, more refinancing of both Investment Grade and High Yield d...