High-Yield CEF Sector Update: Defying Gravity, But For How Long? [Seeking Alpha]
AllianceBernstein Holding L.P. Units (AB)
Last alliancebernstein holding l.p. units earnings: 4/28 06:20 am
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Source: Seeking Alpha
High-Yield CEF Sector Update: Defying Gravity, But For How Long? Summary The high-yield sector has rallied sharply from its December sell-off on the back of lower interest rates and tighter credit spreads. Corporate debt as percentage of GDP stands at a record high, and higher interest rates should worsen interest coverage metrics in due course; however, the sector party still continues. In the sector, we like , and as funds having good yield, decent valuations, and strong alpha. Well, that was quick. There was barely time to say "oh my" when the high yield sector bounced right back from its December sell-off. The long-expected corporate cataclysm over ever-higher leverage amid a slowing economy has been put on hold, at least for the time being. Risk appetite has returned, and the sector has benefited from both a tightening in credit spreads as well as a drop in rates. Source: ADS Analytics LLC, Bloomberg We are fairly cautious on the sector given worsening valuations (lower nominal
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News
- AllianceBernstein's (AB) April AUM Falls on Market Depreciation [Yahoo! Finance]Yahoo! Finance
- AB Announces April 30, 2024 Assets Under ManagementPR Newswire
- Discounter Action sees sales surge thanks to budget shoppers [Reuters]Reuters
- AllianceBernstein Expands Retirement Income Offerings with AB Secure Income Portfolio [Yahoo! Finance]Yahoo! Finance
- AllianceBernstein Expands Retirement Income Offerings with AB Secure Income PortfolioPR Newswire
AB
Earnings
- 4/25/24 - Beat
AB
Sec Filings
- 5/9/24 - Form 8-K
- 4/25/24 - Form 8-K
- 4/25/24 - Form 10-Q
- AB's page on the SEC website