Category Archives: Peritus

Recent High Yield Dynamics

We have seen various market dynamics impact the high yield bond market and some selling pressure ensue over the past couple weeks; however, at the end of the day, we do not see that the opportunity in the high yield …

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US Crude Exports Announcement

The recent announcement by the Department of Commerce Bureau of Industry and Security (BIS) regarding the approval of two applications to export limited quantities of field condensate, after undergoing minimal treatment by way of a stabilizer, is significant and should …

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The Opportunity in Unconventional Oil

Be it energy geopolitics or pipeline politicking, oil markets are clouded by noise that push prices up and down. In order to make long-term investments in the space the trick is to boil it down to the bare bones of …

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High Yield versus Equities

Investors are often led down the path that they must invest in equities in order to generate a decent return, and that the high yield market is too risky and speculative.  However, reality and the data points prove otherwise.  Looking …

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A Perspective on High Yield Spreads

There have been recent headlines about yields in the high-yield market hitting all-time lows.  Yes, this is true, but let’s put this in some context.  First, interest rates have been at or near all-time lows for years, pressuring yields in …

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The True Opportunity in Today’s High Yield Market

There has been recent talk about the yield of the high yield market, as represented by the various indexes, and if there is return left to be had.  While the high yield indexes are representative of the high yield “market,” …

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Hedged High Yield

A strategy that we have seen emerge over the past year within the high yield market has been “hedged high yield,” most recently with iShares rolling out an product last month that uses their passive, index-based HYG fund as the …

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Growth of the High Yield Market

While many often view the high yield bond asset class as a small, niche market, the reality is that this is a large and growing market.1 There have been several distinct periods of growth that assist in understanding the development …

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The Coming Opportunity in Floating Rate Loans

The clamor at the end of 2013 by most was that interest rates were going to rise in 2014.  As we are now closing in on the first half of the year, we have seen this widely held expectation come …

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Where to From Here?

We are seeing the Dow and S&P 500 in record territory over the past week.  Is there more room to run?  It seems hard to make the case, especially given some of the economic stumbles over the last several months …

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