The Nuveen Floating Rate IncomeThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... Fund $JFR has broken below its 50 day moving average on December 19, 2022. Both the MACDThe MACD indicator is essentially a momentum indicator that shows the relationship between two different moving averages of price. The MACD is the difference between the 12-period ... and money flow are rapidly dropping further into bearish territory. $JFR stock is in a technical strong downtrend.
Launched by Nuveen Investments, Inc., the Nuveen Floating Rate Income Fund is a closed-end fixed income mutual fund. Symphony Asset Management LLC and Nuveen Fund Advisors LLC jointly manage it. The fund makes investments in US fixed income markets. It mainly invests in senior loans with adjustable interest rates that are both secured and unsecured. The fund primarily invests in below investment grade loans in order to capture a higher yield.
What may be happening is that the market is pricing in an increased probability of loan default on riskier, below investment grade loans.
This under-the-radar trend suggests junk-loan default rates are entering a danger zone
