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Chart of the Week: The New Old Normal

US interest rates have returned to their average levels of the past half century. Source: Board of Governors of the Federal Reserve System(Past performance is no guarantee of future results.)

The New Paradigm (Last of a Series)

In the capital markets this year, it’s all been about rates and inflation: can the Fed’s higher-for-longer regime bring prices down close to pre-pandemic levels without triggering a recession? At the moment, the answer seems to be yes. Both credit investors and issuers are using private capital as a vehicle proven resilient through rate, economic, […]

The Pulse of Private Equity – 12/18/2023

Middle-market activity: A 6-year low Download PitchBook’s Report here. Middle market buyouts are down to a six-year low, according to PitchBook’s Q3 US PE Middle Market Report.  The third quarter dipped to an estimated $87.7 billion, a 13% decline from Q2 2023 and a 48% decline from the peak in Q4 2021…. Subscribe to Read MoreAlready

Covenant Trends - 12/18/2023

Average Total Deleveraging Required To Meet RP Ratio Test (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com