Morning Note | Aug 15, 2023 | Preferred CEFs (FLC, JPI) And Zions Baby Bonds (ZIONL) Look Attractive
Good Morning!
The big news overnight was the Chinese economic data coming in much weaker than expected. This was accompanied with "surprise" easing by PBoC, 15bps MLF cut to 2.5%, the biggest drop since 2020. This is pulling down the markets with the S&P set to open lower by -0.6%.
US retail sales increased +0.7%, better than expected and indicating th…
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