FYI: For the fourth month in a row, equity CEFs on average witnessed plus-side performance on both a NAV and market basis, rising 1.40% and 1.69%, respectively, for April. Also, for the fourth consecutive month, their fixed income CEF counterparts posted returns in the black on both a NAV (+1.01%) and market basis (+1.31%). Investors remained upbeat ahead of the Q1 earnings season and optimistic that the U.S. and China trade talks had made substantial progress during the month. The NASDAQ Composite Price Only Index (+4.74%) and the S&P 500 Price Only Index (+3.93%) posted the strongest April returns of the U.S. broad-based indices, while the Dow Jones Industrial Average Price Only Index (+2.56%) was the relative laggard of the group. On the global side, the Xetra DAX Total Return Index posted a handsome 6.89% return for the month, while the Shanghai Composite Price Only Index posted a 0.64% loss for the month.
Regards,
Ted
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