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This article was first released to subscribers one month ago. Quantitative screens help to rapidly narrow down attractive candidates from the database of 500-plus closed-end funds [CEFs] for further due diligence and investigation. Based on feedback from members, it seems that a very man...
Background A few months ago, I wrote about the The Fed Dilemma . I have since then discussed the various points in more details. The last financial crisis was primarily caused by high leverage among households and financial institutions. Banks have deleveraged significantly since then and t...
Making the rounds today is this chart showing the level of U.S. corporate debt as a percentage of GDP vs. the high yield default rate. To not much surprise, the two have tended to move in concert over the last 40 years. More news on: iShares iBoxx $ High Yield Corporate Bond ETF, SPDR Bl...
In the last five years, every time the stock market weakened by a similar magnitude as we saw this October, there was notable junk bond credit-spread widening. Even if one goes back further in time and looks at all sell-offs in this bull market that started in March 2009, one would see that se...
Reaching for marginally more yield in corporate debt and equities, while taking on much higher capital risk, is dumb money management. And yet, it continues to be the consensus financial recommendation. Today, because BAA-corporate bonds have been indiscriminately bought at high prices, thei...
By Ashok K. Bhatia, CFA There are a variety of factors that suggest an active approach to fixed income is a preferred option, which may become even more evident as policy normalization continues and the long-lived credit cycle eventually returns. Given the surging popularity of passive...
The Most Bullish Sign In An Otherwise Bearish Market There has been a minimal amount of good news in the equity market over the past few weeks. The S&P 500 is down over 8% this month alone with other sectors such as Regional Banks ( KRE ) and Housing ( ITB ) falling 10.3% and 7.4% in the...
Because of the below-normal volatility in stocks over the past five years, save for sharp corrections that were few and far between, the recent sell-off in the S&P 500 from 2940 to 2710 has generated the usual worried calls from clients wondering if "the top is in." My answer is that it wo...
While it's been a harsh month for stocks, junk bonds are outpacing the S&P 500 this half, Bloomberg First Word reports. More news on: Netflix, Inc., Uber, iShares iBoxx $ High Yield Corporate Bond ETF, Financial stocks news, News on ETFs, Read more ...
During the third quarter, stronger than expected growth and falling unemployment coincided with positive market returns for both stock and bond investors. In this commentary, Brian Meaney, CFA reviews the third quarter of 2018 and examines the Fixed Income Investment Team’s outlook fo...
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Ivy High Income Opportunities Fund of Beneficial Interest Company Name:
IVH Stock Symbol:
NYSE Market:
Today, Delaware Ivy High Income Opportunities Fund (the “Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH,” announced that the acquisition of substantially all of the assets of the Fund by abrdn Income Credit Strategies Fund (the &...
Today, Delaware Ivy High Income Opportunities Fund (the “Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH”, announced that the Fund will make a final distribution of $0.149 per share in connection with the reorganization of the Fun...
Today, Delaware Ivy High Income Opportunities Fund (the “Acquired Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “IVH”, announced that the Acquired Fund will make final distributions in connection with the reorganization of the Acquir...