High-Yield and Private Credit: Volatile Times
“Time to go to cash,” we announced recently at the dinner table. The Dow had almost climbed back to its February 12 peak. “What does that mean?” our six-year old daughter asked. Her mother replied, “It means Daddy wants to put our money in a mattress.”
Unfortunately more pressing matters – like whether to give our ten-year old a cell phone (we did) – intervened, and the moment was lost.
Being held hostage to headlines is how liquid assets behave. You can ride the wave up on good news, but bad news sends the roller coaster right back down. Even credit assets can be hijacked by fund flows and Fed moves….
▶︎ Read June 15 2020 newsletter: here
▶︎ Chart of the Week: here
Latest news
Q2 European direct lending activity up 9%
Despite the geopolitical and macroeconomic events of the first half of the year creating a volatile environment, the European private credit market continues to demonstrate robust resilience.
Share of PE middle-market fund count by size bucket
Sector composition tilted hard toward B2B in Q1. B2B accounted for 52.9% of middle-market exit value, up from 38.2% in full-year 2025…
The Lead Left rebrands as The Lead, expanding into a multi-format platform for private capital intelligence
New York, July 16, 2026 – The Lead Left, the private capital thought leadership platform founded by Randy Schwimmer in 2008, today announced its rebrand as The Lead…