FYI: For the fourth consecutive month equity CEFs on average witnessed plus-side returns
on a NAV basis and a market basis (+2.06% and +2.67%, respectively). And for the
third month in a row their fixed income CEF counterparts chalked up returns in the
black, rising 1.18% and 0.83%, respectively, for February. The U.S. broad-based indices
posted multiple record highs during the month. While investors started the month on
a cautious note, focusing on earnings reports and the Federal Reserve’s policy meeting
at the end of January, they cheered a better-than-expected January jobs report, strong
factory orders, and President DonaldTrump’s executive order to review the Dodd-Frank
Act, which was enacted in the wake of the 2008 financial crisis. Although the markets
remained a little choppy during the month, the Dow Jones Industrial Average posted 12
consecutive record closes at the end of the month, matching the longest record-setting
winning streak ever (1987).
Regards,
Ted
http://lipperalpha.financial.thomsonreuters.com/wp-content/uploads/2017/03/FMIR-US-CE-M-20170228-TR.pdf
