High materiality9/10
This Safe 8.7%-Yielding Closed-End Fund Is A Bargain Again
Why it may matterVerify against the original reporting
DLY's high yield makes it attractive in rising rate environments, similar to past trends.
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What happened, with direct paths to the underlying reporting
Fed cut rates by 50 bps, but long rates rise. Government deficit projected at $1.9 trillion on $4.9 trillion revenue. DLY offers an attractive yield of 8.7%, doubling current 10-year's rate. Three-quarters of DLY's bonds are below investment grade. Gundlach's bond picks offer unique opportunities in current market.
- Fed cut rates by 50 bps, but long rates rise.
- Government deficit projected at $1.9 trillion on $4.9 trillion revenue.
- DLY offers an attractive yield of 8.7%, doubling current 10-year's rate.
- Three-quarters of DLY's bonds are below investment grade.
- Gundlach's bond picks offer unique opportunities in current market.
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