Monthly Archives: August 2016

The High Yield Market: Market Size, Ownership, Funds, and Opportunities

The entire U.S. fixed income market (municipals, Treasuries, mortgages, corporates, federal agency bonds, money market, and asset back securities) totals over $41 trillion.1 Corporate credit (high grade, high yield bonds, and floating rate loans) is about $9.3 trillion of this …

Posted in Peritus

Breaking the Correlation

Oil prices began their decline in late 2014 and accelerated over 2015 into early 2016.  As we got into 2015 and early 2016 we were see a dynamic whereby declining oil prices were causing contagion to the entire high yield …

Posted in Peritus

Loans: Understanding The Floating Rate

As we have previously noted (see our piece “Today’s Floating Rate Loan Market”), we see investing in the loan market as predominantly a way to expand our investment universe. High yield debt issuers have the option to issue bonds, loans, …

Posted in Peritus

Today’s Floating Rate Loan Market

We are high yield debt investors.  While our focus over the decades has been on investing in high yield bonds, we also do allocate a portion of our portfolio to floating rate bank loans.  Over the past couple decades, these …

Posted in Peritus