So a follow-up on my post from last week, The Danger in Investing According to Ratings…Again, just because I can’t resist.  In this post I profiled MF Global and how reactive the rating agencies were compared to what the market … Continue reading →

The high yield market continued its move higher this week aided by improving economic data, largely decent Q3 earnings in the U.S., a deal announced in Europe, and record inflows in to the space. For the week the Bank of … Continue reading →

The following tidbits confirm what is going on in the economy and what many industries are facing.  The economy is not as weak as it was in late 2008/early 2009, but it is challenging.  Yes our GDP grew at 2.5% … Continue reading →

One of the core tenants of our investment philosophy is that we do not rely on ratings—we view the ratings agencies as reactive, not proactive, and backward looking.  Yet, many investors seem to rely almost entirely on these ratings to … Continue reading →

The market is flying this morning on a European agreement on a bailout fund and a better than expected U.S. GDP number. The synthetic HY17 index is better by 2.5 points and cash bonds are gapping higher. Inflows continue to … Continue reading →

After a very solid week for the high yield market, posting a 1.88% return on the Bank of America Merrill Lynch High Yield index, we’re opening up with a better tone again this morning with equities rallying. The synthetic HY17 … Continue reading →

More confidence in a European resolution, easing double-dip fears on some better than expected economic data, and record inflows helped push the high yield market higher this week. Spreads and yields on the Bank of America Master High Yield Index … Continue reading →

Last week we were on a call, sponsored by AdvisorShares, talking to investors.  These investors consisted of both individuals and financial advisors using or interested in the ETF we manage, the Peritus High Yield ETF (Ticker: HYLD).  In addition to … Continue reading →

Anyone care to wonder why the stock market has given you effectively no return over the last decade?  Did you know that American family incomes as of the end of 2010 were 7.1% below where they were during the peak in … Continue reading →

The high yield market was better again yesterday, despite the weakness in the equity markets, as the Bank of America Merrill Lynch High Yield Master index returned 0.31% yesterday and has returned 2.04% MTD.  The CCC space continues to lead … Continue reading →