Net asset value yesterday was 8.67 per share. Today the 30 year bond index increased.
The price of ACG traded down to 7.69 which is a discount of 11.3% from yesterday's Net Asset Value. If the monthly income distribution continues for a year, the yield will be 6.24%. Given the fact that the unemployment increased to 7.6% and the economy is predicted to grow only 1.4% for the next quarter, I suspect that the Fed will not stop its easing in the near future (the sequester and the health care plan should be a bigger obstacle to much stronger growth and the accompanying interest rate rise.
The market is super spooked by the perceived end game to Fed QE. The 10 year treasury is now perched above 2% and it just FEELS like interest rates are going up, even though I agree with your post that the data suggests otherwise. It's tough to fight a sentiment change on Wall Street, and ACG is the poster child for long duration bonds. Prepare for some painful down drafts in share price, and step up to buy more if it you've got the stomach.
Next stop, 7.50