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Going Viral: Realities of the New Market

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Back on January 8th, we reviewed credit market conditions in the wake of the killing of an Iranian general. Could this be the exogenous factor that sparks a Middle East war, and triggers a recession? We concluded with the following observation: “Whether the Fed can continue mainlining enough liquidity all year to overcome any exogenous […]

PDI Picks – 3/16/2020

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How does the dry power get invested now? The market is pausing for thought at a time when there’s plenty of capital waiting to find a home. One constant topic of PDI’s conversations with the market over the last few years has been the inevitability that at some point something would trigger a downturn…. Subscribe

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Leveraged Loan Insight & Analysis - 3/9/2020

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Unitranche in price discovery mode, likely moving back over 600bp Amid falling Libor and more volatile pricing conditions in the syndicated market, unitranche pricing is moving higher after hitting rock bottom levels in 4Q19. So far in 1Q20, the average blended spread on a unitranche is 590bp, up from a low of 578bp in 4Q19….

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Private Credit Myth #9: Without a public benchmark, private credit returns aren’t dependable

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We wrap up special series on the Top 10 #PrivateCreditMyths with the last two. Myth #9: “Without a public benchmark, private credit returns aren’t dependable” Private credit assets don’t trade. That distinguishes them from more volatile public credit correlated with market moves. Middle market loan yields are therefore more stable through business cycles. Private credit […]

The Great Stay-In (First of a Series)

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In our January 8th 2020 commentary, “Of Bubbles and Gum”, we reviewed credit market conditions in the wake of the assassination of Iranian General Suleimani. Could this be the exogenous factor that sparks a Middle East war, and triggers a recession? Or will it fade quickly like so many other candidates? We concluded with the…

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