FYI: For the second consecutive month, equity CEFs on average witnessed plus-side performance on both a NAV and market basis, gaining 0.81% and 0.38%, respectively, for October. Meanwhile, for the second month in a row, their fixed income CEF counterparts posted returns in the red on a NAV basis (-0.05%), but clawed out a positive return on a market basis (+0.28%). During the month, investors took a risk-on stance in hopes of a trade truce between China and the U.S., upbeat Q3 earnings reports, and expectations of another Federal Reserve interest rate cut. The NASDAQ Composite Price Only Index (+3.66%) and the Russell 2000 Price Only Index (+2.57%) posted the largest gains of the U.S. broad-based indices, while the Dow Jones Industrial Average Price Only Index (+0.48%) was the relative laggard. On the global side, the Xetra DAX Total Return Index witnessed the biggest gains of the group—rising 5.95% for the month—followed by the Nikkei 225 Price Only Index—posting a 5.35% return.
Regards,
Ted
https://lipperalpha.refinitiv.com/wp-content/uploads/2019/11/FMIR-US-CE-M-20191031-TR.pdf
