Glasses Half Full (Last of a Series)
In conversations with dozens of institutional investors over the past several months, consistent themes recur. First, there’s the sense of continually being bombarded by unexpected bad news rocking markets…
▶︎ Read Mar 27 2023 newsletter: here
▶︎ Chart of the Week: here (by Lincoln Proprietary Database (Interest Coverage Ratio = Ebitda – Capex/Actual LTM Interest))
(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)
Latest news
US Leveraged Loans Return 3.36% to Investors YTD
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) returned 0.96% in August and has gained an additional 0.28% through September…
PE dry powder
The capital that is being raised is flowing overwhelmingly to the largest, most established managers.
Middle market debt held by BDCs vs High yield vs Treasury yields
The blue line represents the current dividend yield of the VanEck BDC Income ETF (BIZD), which stood at 11.7% as…