Posts by THE LEAD
Markit Recap – 1/2/2017
John Maynard Keynes said we live in a world of irreducible uncertainty, while neoclassical economists state that perfect information is available and people make rational expectations. The events of the last decade suggest that the former school of thought has more credence, though “freshwater” economists would no doubt disagree.
Uncertainty of the political variety looks set to be the overriding theme for 2017, regardless of whether one thinks the market is driven by rational agents or not. A new US president promising radical policy changes; elections in France, Germany and the Netherlands…
Read MoreSpecial Report: Why Sponsors Matter
Beginning in September 2016 The Lead Left published a series of articles on sponsors. This report consolidates those articles.
Read MoreA Year in Review (First of a Series)
The notion that the middle market has reached a level of maturity was supported by a plethora of evidence this…
Read MoreStat of the Week: Civilian Unemployment Rate
Select Deals in the Market – 1/2/2017
☞ Click for a larger image.
Read MoreLead Left Interview – Andrew Brady (Part 2)
This week we continue our conversation with Andrew Brady, Managing Director and Leveraged Loan Portfolio Manager of Marathon Asset Management,…
Read MoreReversal of Fortune
The second half of 2016, climaxing in December’s Fed hike, saw leveraged loans find increasing favor with institutional investors.
Read MorePrivate Debt Intelligence – 1/2/2017
Infrastructure Debt Rises in Prominence
Although banks are the primary providers of financing for global infrastructure projects, liquidity and capital requirements can prevent them from fully serving the market. This has led to an opportunity for the unlisted fund management industry to become a significant niche player in the provision of debt financing for infrastructure…
Read MoreLoan Stats at a Glance – 1/2/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Read MoreMarkit Recap – 12/12/2016
It’s that time of year when analysts dust off their crystal balls and make predictions for the next 12 months. In December 2015 not many were forecasting that Britain would vote to leave the EU, and even fewer were betting on a Donald Trump presidential victory, so investors would be wise to treat such missives with caution. Political risk is a capricious beast, even for the most seasoned market observers.
But, caveats aside, there seems to be a consensus forming that 2017 will be tough year for one particular asset class: emerging market debt. A Trump presidency will usher in a new era of lower taxes – especially for high earners – and expansionary fiscal policy…
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