Credit Suisse High Yield Bond Fund

Credit Suisse High Yield Bond Fund is a non-diversified, closed-end management investment fund, which engages in seeking high current income investment. It seeks to deliver attractive returns from U.S. high yield bond markets to investors. The firm’s investment strategy is to maximize total return from monetizing macroeconomic themes and exploiting sector and issuer performance and rating dispersion. The company was founded on April 24, 1998 and is headquartered in New York, NY.

The Credit Suisse High Yield Bond Fund offers a high level of income with a current yield of 9.79%, higher than most other options in the market. The fund has underperformed the American high yield bond index in terms of price performance, but it actually delivers a much higher total return. The fund primarily invests in U.S. high-yield debt, with a small allocation to cash and common stock.

DHY: Junk Bonds Appear Overvalued, But This Fund Is A Good Way To Play Them

Credit Suisse Asset Management Income Fund

We highlight our strategy of allocating to a pair of sister High Yield corporate bond CEFs Credit Suisse Asset Management Income Fund, Inc and Credit Suisse High Yield Bond across our portfolios. Specifically, allocating to this pair of funds and doing an occasional rotation between them can deliver double-barreled performance via two independent sources of alpha. Our lazy-man approach to rotating across these funds has, in effect, more than doubled the yield on offer across these funds.

CIK And DHY: Why These Corporate Bond CEFs Belong In Most Income Portfolios

Blackstone/GSO Senior Floating Rate Term Fund

Western Asset Mortgage Opportunity Fund

Wells Fargo Income Opportunities Fund

Allspring Global Dividend Opportunity Fund

Wells Fargo Utilities and High Income Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Invesco High Income 2023 Target Term Fund

Nuveen Preferred & Income Term Fund

Nuveen Preferred & Income 2022 Term Fund

We review CEF market valuation and performance through the third week of May and highlight recent market action. CEFs were mostly down on the week as rising Treasury yields were the key headwind.

CEF Weekly Review: Term CEFs Continue To Be Misunderstood

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Western Asset/Claymore Inflation-Linked Securities & Income Fund

We review CEF market valuation and performance through the first week of April and highlight recent market action. CEFs had a fairly flat week with higher-quality / longer-duration sectors outperforming due to the continued drop in longer-term Treasury yields.

CEF Weekly Review: The Key Difference Between Accounting Income And Cash Flow

PCM Fund

Recent market volatility has opened up valuation divergences between very similar CEFs, creating opportunities for switches or outright holds. This offers income investors an opportunity to pick up additional yield, adopt a more defensive stance, and generate alpha in their portfolios.

Market Volatility Opens Up More CEF Relative Value Opportunities

Credit Suisse High Yield Bond is a fixed-income closed-end fund. The CEF has a moderate 33% leverage ratio and a very large discount to NAV of -11%.

DHY: High Yield CEF Surviving The Credit Suisse Association

Corporate bonds have performed strongly so far this year, outperforming bank loans, as Treasury yields continue to move lower. Credit Suisse High Yield Bond Fund allocates primarily to high-yield corporate bonds with a pocket of CLO debt and bank loans that has allowed its net income to remain resilient last year.

DHY: This 9.8%-Yielding Bond CEF Is A Consistent Outperformer

We review CEF market valuation and performance through the first week of January and highlight recent market action. The CEF market had a strong start to the year, supported by higher stocks and lower Treasury yields.

CEF Weekly Review: Distribution Cuts Pick Up Where 2022 Left Off

Aberdeen Income Credit Strategies Fund

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

BlackRock Taxable Municipal Bond Trust

BlackRock Municipal Income Quality Trust

Central and Eastern Europe Fund

Calamos Convertible Opportunities And Income Fund

Dreyfus Alcentra Global Credit Income 2024 Target Term Fund, Inc.

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

DoubleLine Yield Opportunities Fund

Eagle Point Income Company Inc

Eaton Vance National Municipal Opportunities Trust

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

John Hancock Preferred Income Fund

Ivy High Income Opportunities Fund

Nuveen Core Equity Alpha Fund

Macquarie Global Infrastructure Total Return Fund Inc

Pioneer Municipal High Income Opportunities Fund

Nuveen Municipal Credit Opportunities Fund

Nuveen AMT-Free Municipal Credit Income Fund

Pimco California Municipal Income Fund II

PIMCO Dynamic Income Opportunities Fund

Pimco New York Municipal Income Fund

RiverNorth Flexible Muncpl Incme Fnd Inc

RiverNorth Opportunities Fund, Inc.

Cohen & Steers Reit And Preferred Income Fund Inc

Cushing MLP & Infrastructure Total Return Fund

Delaware Investments

2 out of 23 CEF sectors positive on price and 4 out of 23 sectors positive on NAV last week. DEX will merge with AGD.

Weekly Closed-End Fund Roundup: DEX Will Merge With AGD, Tender Next January (December 11, 2022)

The DHY fund aims to provide high current income from junk bonds and loan investments. It has an attractive 9.9% current yield on market price.

DHY: High Yield But High Return Variability

DHY is a fixed income CEF that is currently overweight HY bonds (more than 70% of holdings).

DHY: Fixed Income CEF Overweight HY Bonds, 8.27% Yield

Apollo Tactical Income Fund, Inc.

Ares Dynamic Credit Allocation Fund

Barings Global Short Duration High Yield Fund

Blackstone Long-Short Credit Income Fund

Blackrock Limited Duration Income Trust

Brandywine Global Income Opportunities Fund Inc

Doubleline Opportunistic Credit Fund

Dreyfus High Yield Strategies Fund

DoubleLine Income Solutions Fund

Eagle Point Credit

Stone Harbor Emerging Markets Total Income Fund

Western Asset Global High Income Fund

Flaherty & Crumrine Total Return Fund Inc

First Trust Intermediate Duration Preferred & Income Fund

Western Asset High Income Opportunity Fund Inc

Western Asset High Income Fund

Pioneer Diversified High Income Trust

New American High Income Fund

Nuveen Preferred & Income Securities Fund

Nuveen Real Asset Income & Growth Fund

KKR Income Opportunities Fund

Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

'High-High-Low' Closed-End Fund Report, February 2022: ARDC, HYB, JRI Buy Ratings Affirmed

MFS High Yield Municipal Trust

MFS High Income Municipal Trust

First Trust Preferred Securities & Income ETF

iShares International Preferred Stock ETF

Virtus InfraCap U.S. Preferred Stock ETF

We review CEF market valuation and performance over the last week of July and highlight recent market events. July CEF returns were wrapped around zero in aggregate as higher NAVs were offset by wider discounts.

CEF Weekly Market Review: Market Takes July Off

Virtus AllianzGI Convertible & Income Fund

With valuations tightening and a number of risks on the radar, it makes sense to take a margin-of-safety approach to income portfolios. In this margin-of-safety installment, we discuss allocating to fixed-income CEFs with a more stable historic income profile paired with a strong coverage level.

CEF Income Margin-Of-Safety Opportunities

AllianceBernstein Global High Income Fund Inc

BlackRock 2022 Global Income Opportunity Trust

iShares Fallen Angels USD Bond ETF

Western Asset High Yield Defined Opportunity Fund Inc

BlackRock Corporate High Yield Fund

Nuveen Credit Opportunities 2022 Target Term Fund

MFS Charter Income Trust

Neuberger Berman High Yield Strategies Fund Inc

Pioneer High Income Trust

Brookfield Real Assets Income Fund

Invesco High Income Trust II

The high-yield CEF sector has done well though not as well as other sectors in terms of discount returns in the last month (+1.3%). The sector as a whole is near its long-term fair value with a discount of -5%. But with spreads near the pre-COVID tightest levels, there isn't much upside for NAVs.

CEF Analysis: High-Yield Sector Update

We take a look at the high-yield CEF sector which enjoys an above average yield across the CEF space and a still reasonable discount valuation.

High Yield CEF Sector Update

Western Asset Emerging Markets Debt Fund

John Hancock Preferred Income Fund II

Only funds with yield over 7.5%, coverage higher than 90% and trading at a discount are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top DxYxZ funds are DSL, HPI, and HPF.

'High-High-Low' Closed-End Fund Report, (Belated) January 2021

Calamos Convertible And High Income Fund

Eaton Vance Short Duration Diversified Income Fund

Some Cheap 'Convergence Trade' Opportunities

Liberty All-Star Growth Fund

Tekla Life Sciences Investors

During the last few months, most closed-end funds have been hit hard. Moreover, their recovery had lagged the broader market, but more recently, they have been catching up.

5 Best CEFs To Buy This Month (June 2020)

Eaton Vance Senior Floating Rate Fund

MFS Multimarket Income Trust

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Cohen & Steers Select Preferred and Income Fund

Just to be clear, these are not "buy" recommendations but considerations if you own the "sell" fund.

Some Potential Swaps To Consider (If You Own The Sell Fund)

News for Credit Suisse High Yield Bond Fund ETF (DHY)