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ZTR cut their distribution in June. This led to the fund's discount to widen significantly. Prior to this cut, the fund was enjoying premium pricing. The 12%+ rate is quite attractive, and even while the cut went through, they could continue to struggle paying the same distributio...
Despite record monthly job growth this spring and summer, we have recovered only half of the lost jobs lost during the frenetic initial weeks of the pandemic. The jobs recovery is stalling as “temporary” furloughs convert into permanent job losses, hiring slows, new clai...
Initial claims for regular state unemployment insurance totaled 898,000 for the week ending October 10, up 53,000 from the previous week's revised tally of 845,000. Claims are now at a seven-week high, the highest level since August 22. The latest week is also the 30th week of his...
Led by a 2% drop in Hong Kong, Asia-Pacific equities tumbled, with the exception of Australia. The Dow Jones Stoxx 600 is off for a third day, but the nearly 2.2% decline is the largest drop since September 21. US shares are also lower. The dollar is gaining across the board. ...
This seems an opportune time to review the difference between strategy and tactics. The US dollar remains in a short-term downtrend; however, the rate of change has stalled over the last two months. Growth continues to outperform, but the tide may be turning. A weak dollar env...
While most people generally understand that the stock market and the economy do not move in lockstep, there is still an underlying belief that a strong market reflects a strong economy. With the Fed now delivering more stimulus than ever, and promising to keep interest rates at zero f...
The stock market soars on stimulus announcements because, hey, free money - but where’s the money tree? The US is broke and getting broker. There is no political will to address the problem - quite the opposite, in fact. The US stock market is poised for a loss worse than 5...
Despite a 3.80% decline in September, the S&P 500 Index was up a solid 8.93% for the third quarter. This near double-digit return in the third quarter is on the back of the second quarter’s return of 20.54%. Our Fall 2020 Investor Letter contains additional commentary o...
In addition to its grip on our politics, COVID remains highly relevant to our portfolios. Near term, it is likely that the virus and related factors will continue to dictate returns. The economy appears to be gathering steam, and this bolsters business and consumer confidence. In ...
We focus on the UK to illustrate the dynamics of the three signposts we use in evaluating the virus shock: restart, policy revolution and economic scarring. Talks around a pre-election U.S. fiscal package continued in fits and starts - though the path to enactment of any deal appears ...
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HARTFORD, Conn. , Nov. 18, 2019 /PRNewswire/ -- The reorganization of Virtus Total Return Fund Inc. (NYSE: ZF) with and into Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) has been completed. ZF ceased trading and dissolved as of the close of business on Friday, November ...
HARTFORD, Conn. , Nov. 4, 2019 /PRNewswire/ -- The Boards of Directors of Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR), Virtus Total Return Fund Inc. (NYSE: ZF), and Duff & Phelps Select MLP and Midstream Energy Fund Inc. (NYSE: DSE), and the Board of Trus...
HARTFORD, Conn. , Oct. 2, 2019 /PRNewswire/ -- Virtus Total Return Fund Inc. (NYSE: ZF) previously announced the following quarterly distribution on September 25, 2019 : Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution...