Treasury Bonds Pare Losses on Retail Sales, Jobless Claims
With falling interest rates behind us, we expect the high-yield market will outperform the investment-grade market, even if we see some energy-sector defaults.
Because interest rates do not always move in tandem, investors need to pay close attention to the yield curve and spreads to gauge risk.
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We examine the effect of short-term Treasury yields on these closed-end funds' discounts.