Commentary
Markets at the Midpoint (First of a Series)
“What’s the most depressing holiday?” Suspecting a joke, we hesitated before answering our friend’s query at a backyard barbecue last…
Read MoreCovenants in the Coal Mine (Last of Two Parts)
The onset of renewed market volatility last week reminded credit participants that exogenous events do impact prices and new issuance,…
Read MoreWhat Brexit Means for Loans
“Thank God for the Electoral College.” Thus the co-head of a major credit trading desk put a brave face on…
Read MoreCovenants in the Coal Mine (First of Two Parts)
By the time you read this, the UK will be voting on its long-awaited referendum on whether or not to leave…
Read MoreSmooth Sailing
In what was described as a series of events in which “several things went wrong,” a 230-foot long replica of…
Read MorePrice Club
Last week’s disappointing employment report was another brushback pitch to the Fed as it hopes to hike rates sometime this…
Read MoreGrowth and the Fed
It was the medical equivalent of winning the lottery. Patty Ris, an 87 year old resident of a Cincinnati nursing…
Read MoreMinding the Gap
A major consequence of regulatory reform since the credit crisis has been the reduction of future demand for leveraged loans.…
Read MorePrivate Credit and Business Cycles (Last of a Series)
The question of where we are in the business cycle may ultimately be answered only in hindsight. Similarly what triggers…
Read MorePrivate Credit and Business Cycles (Second of a Series)
Timing in private credit investing is an important part of decision making for asset managers. Having a view on where…
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