RE:RE:RE:RE:RE:Distribution Cut ?????Attrition is a killer when markets are in turmoil.
In the case of BK there was a double hit happening as the term life of the fund was coming near it's stated end and they had a basket of cash to disperse before termination date.
Now that they've extended their termination date, things have to change before they bleed off to much of their operating surplus and they become rangebound, which is often the death knell of very good funds/companies.
Bank stock/bond prices are dropping all over the world, without a shining light to be seen among them.
Some talking heads are declaring this is the bottom.
I disagree of course but that's just my personal evaluation.
Right now, even the swings, which are usually fairly obvious, are getting very dangerous to trade.
Like a few here have stated, I'm also in 100% cash at this point.
I don't trust the word of any of the present politicians and I have very little confidence in the assumptions of the talking heads/brokers.
When you look at what's happening in the real world, they're mostly dumping their personal holdings while pumping some of those same investments.
Financials are not in a good spot to be right now.
Not only that, but in North America most of the banks are heavily invested in oil/natural gas and real estate and they heavily have a visible effect on their income/bottom line.
IMHO the dominoes are on a shaky platform
When it will all settle down is anyone's guess