Destra Insights

We’re living in strange times. The entire country has been shut down for weeks, small businesses are suffering, and unemployment has skyrocketed. Despite all the negative news, we are more bullish on community banks than we’ve been in years.

At the moment, the healthcare sector is operating within an extremely complicated and volatile macroenvironment. The coronavirus epidemic came on very quickly and has changed the way that America and the world function. This impact may ultimately reverse but, at best, is here for some time.

Closed-End Funds differ from Open-End Funds in many ways. One key difference is through pricing mechanics and terminology, such as Premium/Discount and Z-Scores.

Having registered an enticing +14% return in 2019, global high yield markets have taken barely six weeks to erode all of these gains. Experiencing the worst quarterly fall since Q4 2008 (in which global high yield (GHY) tumbled -18%), the first quarter of 2020 saw GHY markets retreat -13.63% as a realisation of the spread, scale and potential impact of COVID-19 took hold.

The sell-off in growth-sensitive risk assets and volatility in financial markets since late February is unprecedented in its pace and magnitude. Financial markets continue to be roiled by the economic and financial implications of the COVID-19 pandemic and efforts to contain its spread and the loss of life. The world’s major economies are on the brink of recession, the depth and duration of which is highly uncertain.