For over a decade, the tide of capital has flowed mostly in one direction: into markets. That’s because since the Great Recession the Fed has kept interest rates low. Public credit, both loans and bonds, benefited from this support…

▶︎ Read Sept 12 2022 newsletter: here

▶︎ Chart of the Week: here (by Leveraged Commentary & Data (LCD))

(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.)