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BDCs Yielding 10% - Primed for Higher Interest Rates

Daily Recap

World stock markets followed the US's lead from yesterday, with most major Asian and European indexes down more than 1%. Here, stocks opened slightly lower and gradually lost more ground as the day progressed. Key indices closed near their daily lows, with the Dow 77 points lower, NASDAQ 48 lower, and S&P 500 14 points lower than yesterday.

Several factors were at play. The largest was probably a continuation of yesterday's trend towards protecting against a Trump win next Tuesday. Signs of this showed in another decline in the Mexican peso, seen as the canary in the coal mine when it comes to a Trump win or loss. Volatility edged up again today after yesterday's big jump in the VIX, which measures such things. Crude oil prices didn't help, with today's decline of nearly 3%. Finally, the Fed's decision not to change interest rates today, but comments about a strengthening economy (making a ... Log in or subscribe to continue reading.

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