FYI: For the third month in four, equity CEFs on average witnessed plus-side performance on both a NAV and market basis, gaining 1.47% and 2.49%, respectively, for September. Meanwhile, for the first month in nine, their fixed income CEF counterparts posted returns in the red on a NAV basis (-0.18%), but clawed out a positive return on a market basis (+0.41%). Early in the month, investors took a risk-on stance ahead of a Federal Reserve interest rate cut and after learning August retail sales grew faster than expected. The Dow Jones Industrial Average Price Only Index (1.95%) and the Russell 2000 Price Only Index (+1.91%) posted the largest gains of the U.S. broad-based indices, while the NASDAQ Composite Price Only Index (+0.46%) was the relative laggard. On the global side, the FTSE 100 Price Only Index witnessed the biggest gains of the group—rising 4.01% for the month—followed by the Nikkei 225 Price Only Index—posting a 3.20% return.
Regards,
Ted
https://lipperalpha.refinitiv.com/wp-content/uploads/2019/10/FMIR-US-CE-M-20190930-TR.pdf
