Senior Loan Talking Points
Highlights from the week of March 10 – March 16, 2023
We do not see signs of systemic risk, but further volatility is likely in the near term.
Political brinksmanship over the debt limit is poised to push the Treasury to the edge.
A tight labor market is keeping the Fed in a rate-hiking mode.
Highlights from the week of March 10 – March 16, 2023
We do not see signs of systemic risk, but further volatility is likely in the near term.
Political brinksmanship over the debt limit is poised to push the Treasury to the edge.
SASBs in the industrial, multi-family and life sciences spaces are compelling. Higher-yielding office and retail CMBS aren’t worth the reach … yet.
A tight labor market is keeping the Fed in a rate-hiking mode.
In 4Q22, US CLO tranches exhibited strong returns across the stack as the loan market delivered positive returns in every month during the quarter.
Barring a deep, prolonged recession, we expect leveraged borrowers to successfully navigate the late cycle backdrop given relatively healthy fundamentals.
Barring a deep, prolonged recession, we expect leveraged borrowers to successfully navigate the late cycle backdrop given relatively healthy fundamentals.
Are bond investors right about US rate cuts, or will the Fed hold rates steady following the end of the hiking cycle? Watch the labor market.
Funding ratios rose again in 2022, putting plan sponsors in another surprisingly strong position. But with critical decisions looming, de-risking and diversification are paramount.