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Risk-adjusted performance continued to rise in August for the Global Market Index. Sharpe ratios in global markets generally are elevated. GMI represents a theoretical benchmark for the “optimal” portfolio. For further details see: Major Asset Classes | Aug...
The expected risk premium for the Global Market (GMI) ticked up in August, reaching an annualized 6.1%, slightly above the previous month’s estimate. Despite the comparatively high GMI forecast, the current estimate remains well below the index’s realized risk premium fo...
Why yields have been falling, and whether bond markets are trying to signal to any important trends to investors, particularly in light of the fact that we've seen equities reach new highs. This is a market environment, or a trading environment, that feels like people want to add dura...
The winning streak for American shares rolled on in August. US stocks rose for a seventh straight month and posted the strongest gain for the major asset classes. US bonds also lost ground in August. The Bloomberg Aggregate Bond Index slipped 0.2%, the first monthly decline for the be...
The option-adjusted-spread ((OAS)) on the investment grade or high-grade corporate bond index, is presently about 95-100 bps better than the equivalent Treasury. As of last Friday, August 27th, 2021, the BBB OAS was yielding about 104 bp’s over equivalent Treasuries, which shou...
Retirees struggle to generate reasonable portfolio income in the current environment due to Fed policies. PCF invests in an interesting array of high-yield securities to give it a 9.5%+ yield. The fund invests in other funds, BDCs, and purchases high-yielding fixed-income securiti...
The unprecedented demand for U.S. Treasuries at last week’s auction - even as the 10-year yield approached its 50-day moving average - speaks volumes. Yields did slip notably last Friday back below 1.3% (the day after the auction), closing below their 200-day moving average. Th...
2 things that always happen at or prior to the start of a boom-to-bust transition for the US economy. One is a clear-cut widening of credit spreads. The other is pronounced weakness in the Industrial Metals Index (GYX) relative to the gold price. There are many different credit-spread...
SCO is an ideal way to short oil as it trades 2x inverse with WTI futures. Global growth is downshifting while OPEC+ is ramping production. Call options on Bank of America provide a hedge if oil does not decline, as this scenario would involve higher US yields - supportive of net inte...
GMI’s 10-year Sharpe ratio (SR) edged up for a fifth straight month to 0.86, the highest since January 2020, based on a rolling ten-year window via monthly data. Profiling GMI through a drawdown lens also reflects an extended stretch of low risk. GMI is useful as a baseline...
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High Income Securities Fund Company Name:
PCF Stock Symbol:
NYSE Market:
High Income Securities Fund (“the Fund”) (NYSE: PCF) announced today that its Board of Trustees has authorized the issuance of one non-transferable right for each share of the Fund held on July 8, 2024 to purchase one additional share of the Fund at the greater of (1) 97% of the vol...
High Income Securities Fund (NYSE: PCF) (the “Fund”) today announced that the Fund’s Board of Trustees (the “Board”) has declared the next three monthly distributions under the Fund’s managed distribution plan. Under the Fund’s managed distribu...
High Income Securities Fund (NYSE: PCF) announced today that the record date for the previously announced monthly distribution of $0.0622 per share payable on June 28, 2024 has been changed from June 19, 2024 to June 18, 2024. View source version on businesswire.com: https://www...