Think

BDC COMMON STOCKS

Peculiar

This was a curious week for the broader markets – and for the BDC sector – pulled in different directions.

At the beginning of the week, the major indices were bouncing back from global economic concerns; tariffs troubles, etc.

However, then there was the end of week hardening of the Chinese and U.S. stance and stock market prices went to heck, and bond prices rose.

Just to provide a sense of context, the S&P 500 dropped (1.44%) on the week.

(By the way and just as an FYI, the index is now down 4 weeks in a row).

On Friday alone the S&P dropped (2.6%).

BDC COMMON STOCKS

Up And Down And Across

The week ended August 16, 2019 was a volatile one for the broader markets.

The Dow Jones – by way of example –  had its worst day of the year on August 14, 2019.

Yet, when the dust settled by week’s end, the S&P 500 was down “only” (1.03%).

Still, that 3 weeks in a row to the downside, off (4.59%).

NEWS

BDC COMMON STOCKS

Schizophrenic

In a week where BDC common stock prices should have been all about the results coming out of the first week of earnings season, there were other forces at play.

The Fed cut rates in the most telegraphed move since the invention of the telegraph itself and the Trump Administration returned to tariff wielding.

Without getting into the whys, the result was that the major indices fell out of bed – again.

The S&P 500, the Nasdaq and the Dow Jones indices were all off between (2.5%) and (3.8%).

For the S&P, this was the worst week of 2019 and all the major indices dropped below their 50 Day Moving Averages, according to CNBC.

BDC COMMON STOCKS