LGI: Recent U.S. Dollar Strength Proves Problematic For This CEF (Downgrade)
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The Lazard Global Total Return and Income Fund Inc. (LGI) has been downgraded due to its underperformance, primarily caused by its currency investments, especially short positions in U.S. dollars, which have been negatively impacted by the recent strength of the dollar.
January 08, 2025 | 8:00 pm
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NEGATIVE IMPACT
The Lazard Global Total Return and Income Fund Inc. (LGI) has been downgraded due to its underperformance, primarily caused by its currency investments, especially short positions in U.S. dollars, which have been negatively impacted by the recent strength of the dollar.
LGI's strategy involves short positions in U.S. dollars, which have been negatively affected by the dollar's recent strength. This has led to underperformance and a downgrade, likely causing a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100