Please find this month’s Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.
Last month we advised investors that competing seasonal and fundamentally constructive views on equities would largely cancel themselves out and that we would not be buyers at those levels.
As it happens, the market rose 64 points (0.9%), nothing dramatic but a continuing grind upwards in this bull market. Our only recommendation was the JPMorgan Senior Secured Loan Fund, which has hovered around the same level, as expected. We like this fund, currently yielding 5%, a yield which will only increase as US interest rates pick up.
In this months commentary, we are recommending an interesting new issue bond with a 5.125% coupon, which we feel will trade higher in the secondary market.