The 3 Funds I Recently Added To My Portfolio With Yields Up To 7.40%
- I have tried to reduce my overall CEF allocation- I continue to make some rotational trades into areas of the marketplace I think are best positioned for gains.
- 03/26/2021
|
CEF Report: State Of The CEF Market
- We've seen a lot of volatility in the last month across all risk assets, but closed-end funds have weathered it quite well.
- 03/24/2021
|
Income Lab Ideas: Senior Loan Funds
- Senior loan funds are showing some opportunities at some deep discounts. These funds should benefit from increasing interest rates, but that could be years before playing out.
- 01/03/2021
|
No New Highs For High Yield
- Performance in the high yield market hasn't been quite as strong as the S&P 500. While total return levels in the high yield market are important to track, spreads in high yield debt relative to treasuries provide a more useful barometer.
- 09/15/2020
|
The Chemist's Quality Closed-End Fund Report: August 2020
- Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given.
- 09/09/2020
|
A Cyclical Rotation In Corporate Credit
- The sudden stop to markets induced by COVID-19 caused a substantial repricing of credit risk globally, and central banks, treasuries, and ministries of finance around the world responded unequivocally.
- 09/09/2020
|
Changing Credit Views Amid Volatility
- We downgrade investment grade credit to neutral and increase our overweight in high yield as we see volatility rising after a rally in risk assets.
- 09/09/2020
|
Crisis? What Crisis? USD Corporate Bond Liquidity Since COVID
- As the mid-March 2020 market volatility affected USD corporate bond prices, it also compromised their liquidity.
- 08/27/2020
|
The Chemist's Closed-End Fund Report: July 2020
- CEF discounts remain significantly wider than their historical average, indicating attractive valuations.
- 07/31/2020
|
Income Assets Are Down But Not Out
- The sharp rebound of global stocks and investment-grade bonds in the second quarter left higher-income assets behind.
- 07/28/2020
|
Corporate Credit Markets Remain In Good Shape
- The name of the bond market game since COVID-19 hit, if it can be summarized in one sentence, is that credit spread assets continue to make sense.
- 07/20/2020
|
Midyear Outlook: Bond Investing In The Era Of Low And No Yield
- Low yields plus rising defaults seemingly leave little ground for bond investors seeking safety or income - or both.
- 07/12/2020
|
The One Metric All High-Yield Investors Should Know
- High-yield bonds have a reputation for volatility. Yet US high-yield bonds have performed predictably, even through rough markets. High-yield bonds may experien
- 07/05/2020
|
Impact Of COVID-19 On USD Corporate Bond Liquidity
- We examine the effects of the crisis on the year-to-date liquidity of USD corporate bonds, as measured by the price liquidity ratio. The price liquidity ratio c
- 07/02/2020
|
Nuveen Short Duration Credit Opportunities Fund -- Moody's assigns a short-term rating to VRDM shares issued by Nuveen Short Duration Credit Opportunities Fund
- New York, July 01, 2020 -- Moody's Investors Service, ("Moody's") has assigned a Prime-1 rating to the Series A Taxable Preferred Shares ("Series A TFP Shares") issued by Nuveen Short Duration Credit Opportunities Fund (JSD) in connection with JSD transitioning the Series A TFP Shares to variable rate demand mode from variable rate remarketed mode. JSD will not receive any proceeds from the remarketing of the Series A TFP Shares. The Series A TFP Shares will have the benefit of an unconditional demand feature pursuant to a purchase obligation provided by Barclays Bank PLC (the "Liquidity Provider").
- 07/01/2020
|
Senior Loans: 'Hunkering Down' At The Top Of The Capital Structure
- So much uncertainty! What is an investor to do? Senior corporate loans can provide equity or near-equity returns, especially if held in a closed-end fund. Often
- 06/29/2020
|
The Reopening Killed The V-Shaped Recovery
- This is a weekly series focused on analyzing the previous week’s economic data releases. The objective is to concentrate on leading indicators of economic activ
- 06/29/2020
|
The Chemist's Quality Closed-End Fund Report: June 2020
- Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. ARDC, PHT and HNW are the top-ranked DxYxZ funds.
- 06/29/2020
|
The Chemist's Closed-End Fund Report, June 2020: Valuations And Sentiment Improving
- Sentiment and valuations improving, with average discounts over 1% narrower than last month. However, CEF discounts are still wider than average, which is a buy
- 06/25/2020
|
Today's Portfolios 'Can't Get No Satisfaction' From Yesterday's Instruments
- The U.S. policy response has been the most remarkable of the developed markets, not least because of the explicit marriage of monetary and fiscal policy for the
- 06/24/2020
|
Junk, Man
- The lack of issuance and supply over the last almost year or so, that's what makes the TIC data so fascinating. And relevant, if for other reasons, too. CLO iss
- 06/23/2020
|
Grantham: 'This Is The Real McCoy Of Bubbles... Crazy Stuff'
- A note on Grantham's comments about emerging market securities and how they offer better value than ludicrously priced US corporate securities today. In this en
- 06/22/2020
|
Weekly Commentary June 14, 2020: Buying (And Selling) Opportunities Emerge
- Volatility returned this week in a big way with the Dow recording one of its largest point declines ever. We saw renewed fears of a second wave of the COVID-19
- 06/22/2020
|
Corporate Credit Spreads Continue To Improve
- The corporate bond market has typically been an institutional market that the largest mutual fund firms and sell-side firms like Goldman Sachs and Morgan Stanle
- 06/22/2020
|
High Hopes
- I'll be the first to admit that a great deal of uncertainty remains in the fixed income investment landscape. Since the tumultuous selling in March, the U.S. HY
- 06/17/2020
|
Lithuania Is Trialing a CBDC No One Can Use – And That’s by Design - CoinDesk
- The Bank of Lithuania's LBCoin digital collectible may be a gimmick, but its ambitions for blockchain tech are very, very real.
- 06/08/2020
|
The Big Short, version 2.0
- The Story Behind How Bill Ackman Made Nearly 10,000% Return in a Month during the Covid-19 Crisis
- 06/01/2020
|
FS Global Credit Opportunities Fund -- Moody's places the ratings of preferred shares issued by 12 senior loan closed-end funds on review for downgrade
- Moody's Investors Service ("Moody's") has placed on review for downgrade the Aa3 ratings assigned to preferred shares issued by the following 12 closed-end funds: Eaton Vance Floating-Rate Income Plus Fund (EFF), Eaton Vance Floating-Rate Income Trust (EFT), Eaton Vance Senior Floating-Rate Trust (EFR), Eaton Vance Senior Income Trust (EVF), Eaton Vance Limited Duration Income Fund (EVV), FS Global Credit Opportunities Fund (FSGCO; unlisted), Invesco Senior Income Trust (VVR), Invesco Dynamic Credit Opportunities Fund (VTA), Nuveen Short Duration Credit Opportunities Fund (JSD), Nuveen Floating Rate Income Opportunity Fund (JRO), Nuveen Senior Income Fund (NSL) and Nuveen Floating Rate Income Fund (JFR). Today's rating actions reflect the severe and extensive credit and market shocks the coronavirus pandemic and falling oil prices have had on the bank loan market.
- 05/13/2020
|
Eaton Vance Limited Duration Income Fund -- Moody's places the ratings of preferred shares issued by 12 senior loan closed-end funds on review for downgrade
- Moody's Investors Service ("Moody's") has placed on review for downgrade the Aa3 ratings assigned to preferred shares issued by the following 12 closed-end funds: Eaton Vance Floating-Rate Income Plus Fund (EFF), Eaton Vance Floating-Rate Income Trust (EFT), Eaton Vance Senior Floating-Rate Trust (EFR), Eaton Vance Senior Income Trust (EVF), Eaton Vance Limited Duration Income Fund (EVV), FS Global Credit Opportunities Fund (FSGCO; unlisted), Invesco Senior Income Trust (VVR), Invesco Dynamic Credit Opportunities Fund (VTA), Nuveen Short Duration Credit Opportunities Fund (JSD), Nuveen Floating Rate Income Opportunity Fund (JRO), Nuveen Senior Income Fund (NSL) and Nuveen Floating Rate Income Fund (JFR). Today's rating actions reflect the severe and extensive credit and market shocks the coronavirus pandemic and falling oil prices have had on the bank loan market.
- 05/13/2020
|
The Number Which Contains Everything: The Good, The Bad, And The Unspeakable
- As I wrote on March 24, the Treasury yield curve encapsulates a few numbers, especially the 2-10, with an enormous amount of information about all aspects of th
- 05/11/2020
|
Gonet: l'actualité des marchés au 4 mai
- Nasdaq -3,20%, Dow -2,56%, S&P -2,81%, Russell -3,83%, SOX -5,02%, Eurostoxx fermé, SMI fermé, FTSE 100 -2,34%.
- 05/04/2020
|
Weekly Closed-End Fund Roundup: Massive Relief Rally (April 10, 2020)
- 23 out of 23 CEF sectors positive on price and 23 out of 23 sectors positive on NAV this week. CEFs stage massive relief rally. GER/GMZ announce reverse share s
- 04/21/2020
|
Straight From PIMCO: Dislocations In Corporate Credit Markets
- We have the crippling global pandemic that we're all struggling with, and second, a concurrent collapse in oil prices. The result of this has been a swift and b
- 04/21/2020
|
2 Lessons From The 2008 And 2020 Stock Market Crashes
- Stocks were never as cheap during this crisis as they were in 2008 and 2009, and are unlikely to quickly charge to new highs with earnings falling. After anothe
- 04/20/2020
|
Watch High Yield Bonds And Leveraged Loans For Distress In Financial Sector: Ed Harrison
- The IMF said it expects the global economy to contract by 3% in 2020 and negative earnings pre-announcements have been issued by major companies, yet markets co
- 04/15/2020
|
Reviewing The CEF Space And Our Portfolio Strategy
- I'm still negative on the markets today and think investors believe we will go back to the way we were before this crisis. The recent pricing action appears to
- 04/15/2020
|
The Bond Markets - Social Distancing On Steroids
- The bond markets are integral to our Capital Markets and way larger than the equity markets. Bonds in normal times were buy and hold entities so they didn't ell
- 04/12/2020
|
Nuveen Short Duration Credit Opp Fund (NYSE:JSD) Shares Cross Below 200 Day Moving Average of $14.25
- Nuveen Short Duration Credit Opp Fund (NYSE:JSD)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.25 and traded as low as $11.76. Nuveen Short Duration Credit Opp Fund shares last traded at $11.89, with a volume of 47,481 shares trading hands. The […]
- 04/11/2020
|
When It Comes To Fixed Income, Time Is On Your Side. And So Is The Fed
- The immutable power of time - with an assist from the U.S. Federal Reserve (the Fed) - is what investors can expect to restore order to the corporate bond marke
- 04/03/2020
|
Nuveen Closed-End Funds Announce Postponement of Annual Meeting of Shareholders Originally Scheduled for April 8, 2020 and Change to a Virtual Meeting
- The following Nuveen closed-end funds (each, a "Fund" and collectively, the "Funds") announced today that each Fund’s 2020 Annual Meeting of Shareholders (the "Meeting") has been postponed and that the meeting will be held as a virtual meeting:
- 04/02/2020
|
Why Would You Buy Junk Bonds?
- Junk bond yields really do look ripe for the picking here. But that’s probably not the best use of capital at the moment. Given the dividend yields on offer acr
- 03/29/2020
|
Keep An Eye On The Corporate Credit Market During The COVID-19 Crisis
- In 2008, we had a problem in the credit market (subprime mortgages), which made financial institutions move into credit tightening mode. Soon, that start cascad
- 03/24/2020
|
The Chemist's Quality Closed-End Fund Report, February 2020: A Few DxY Senior Loan Funds To Consider
- Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Slim pickings in the top DxYxZ list, but DxY reveals some
- 03/17/2020
|
U.S. High Yield Faces Double Whammy
- The spread of the novel coronavirus (Covid-19) has increased the downside risks to the fundamental picture for the US HY market. Compounding the situation is th
- 03/11/2020
|
The Chemist's Quality Closed-End Fund Report: January 2020
- Only funds with coverage >100% are considered. Top lists of discount, yield, D x Y, and D x Y x Z are given. Munis dominate the top D x Y x Z lists.
- 02/18/2020
|
Are High-Yield Returns Predictable? Key Metric Suggests Yes
- Stubbornly low interest rates still have many investors reaching far and wide for yield. High-yield bonds provide a consistent income stream that few other asse
- 02/13/2020
|
Nuveen Short Duration Credit Opportunities Fund -- Moody's announces completion of a periodic review of ratings of Nuveen Short Duration Credit Opportunities Fund
- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Nuveen Short Duration Credit Opportunities Fund and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
- 01/31/2020
|
Rating Events: One Theme To Follow In Global Credit Markets In 2020
- Overall, we believe the trends in global markets call for a cautious approach to generic corporate credit beta. Amid the overall tendency toward caution and bea
- 01/27/2020
|
The Chemist's Quality Closed-End Fund Report: December 2019
- Only funds with coverage >100% are considered. Top lists of discount, yield, D x Y and D x Y x Z are given. The top D x Y x Z funds are MZA, MFL and JSD.
- 01/21/2020
|
How To Balance Your Bond Portfolio In 2020
- Fixed-income investors seem caught between a rock and a hard place. Subordinated European bank debt was issued to comply with global Basel III regulations that
- 01/20/2020
|
Weekly Closed-End Fund Roundup: January 3, 2020
- 19 out of 23 CEF sectors positive on price and 18 out of 23 sectors positive on NAV this week. Commodities lead while covered call lags. MLPs remain the highest
- 01/18/2020
|
The Credit Cycle: Opportunity Exists, But Be Selective
- Our base case is that the credit cycle will not turn in 2020. Investors will likely continue to seek income in higher-yielding fixed income assets. In 2019, the
- 01/14/2020
|
Weekly Closed-End Fund Roundup: December 27, 2019
- 21 out of 23 CEF sectors positive on price and 23 out of 23 sectors positive on NAV this week. Commodities lead while Asia equity lags. MLPs remain the highest-
- 01/13/2020
|
Nuveen Short Duration Credit Opportunities Fund -- Moody's rates Nuveen Short Duration Credit Opportunities Fund's new preferred shares Aa3
- Moody's Investors Service ("Moody's") has assigned a Aa3 rating to $100 million of Taxable Fund Preferred Shares ("Series A TFP Shares ") issued by Nuveen Short Duration Credit Opportunities Fund. Total assets of Nuveen Short Duration Credit Opportunities Fund will remain at approximately $275 million, and leverage will be approximately 39%. The Aa3 rating on the new preferred shares reflects JSD's meaningful over-collateralization levels relative to its preferred shares as measured by adjusted leverage and its strong capacity to service its obligations as measured by fixed charge coverage.
- 10/24/2019
|
Nuveen Closed-End Fund Completes Preferred Share Issuance
- Nuveen today announced that the Nuveen Short Duration Credit Opportunities Fund (NYSE: JSD) has issued $100 million of Taxable Fund Preferred Shares (TFP Shares) in a private placement. The Fund will use the net proceeds from the sale of the TFP Shares, along with cash already held by the Fund, to redeem all of the Fund’s outstanding Series 2020 Term Preferred Shares and to reduce borrowings under the Fund’s credit facility.
- 10/24/2019
|
Nuveen Closed-End Fund Announces Intention to Redeem Preferred Shares
- The Nuveen Short Duration Credit Opportunities Fund has filed with the Securities and Exchange Commission a notice of intention to redeem all of the outstanding Series 2020 Term Preferred Shares.
- 09/27/2019
|
What is a Hedge Fund & Should You Invest in One?
- Hedge Funds are designed for Sophisticated Investors or Higher Net Worth Individuals. But is it
- 08/05/2018
|
Is Deutsche Bank AG (USA) The Next Lehman? - ETF Daily News
- NYSE:DB Read more ›
- 02/04/2016
|