Monthly Archives: September 2012

The Necessity of Active Management in High Yield Investing

Exchange Traded Funds (“ETFs”) for high yield bonds have become a bigger factor in today’s market.  However, we believe that the passive, index-based funds have no ability to deal with risks in the current credit market. This involves credit risk, …

Posted in Peritus

High Yield Weekly Update

The high yield market traded lower this week for the first time since the asset class started its massive rally back in early June. This week saw risk assets across the globe trade lower on the heels of the announcement …

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Peritus in the News

Peritus was featured in the Barron’s article, “Off Limits for Bond Indexers” by Brendan Conway, September 29, 2012, available in print or online.

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Peritus in the News

Tim Gramatovich, Chief Investment officer of Peritus, was quoted in the article “Junk Bonds in U.S. Poised for Biggest Retreat in 4 Months,” by Lisa Abramowicz and David Holley of Bloomberg, September 28, 2012.

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High Yield Morning Update

US equity markets are opening lower on the last day of trading in the 3rd quarter after reports showed signs the economy continues to weaken…this after trying to rally on more stimulus hopes yesterday. High yield is opening mixed this …

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High Yield Morning Update

US stocks are better today after five straight down days, and commodities are bouncing off of seven week lows on more speculation of government assistance to spur economic growth. The high yield market is opening mixed, and volatility remains as …

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Credit Volatility

We have stated on several occasions in our writings that the large, on-the-run credits are the most volatile due to the fact that as the large index-based ETFs see inflows and outflows, it is these credits that are the first …

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High Yield Morning Update

The high yield market is opening lower again this morning, on thin volume because of the Yom Kippur holiday, as sentiment around the globe continues to sour. The HY18 index is down 5/8 in early trading to 99 ¾, down …

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The Equity Euphoria Fades

Last night Caterpillar lowered their outlook through 2015 as this massive bellwether is witnessing a global slowdown.  China is undoubtedly slowing and is likely going to end up with growth in the low single digits.  Commodities are puking, as this …

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High Yield Morning Update

The high yield market opened the week on a softer note yesterday with more sellers in the market than buyers in a very long time. Some of this can be explained by the continued large number of new issues pricing, …

Posted in Peritus