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Read Peritus’ regular insights and commentaries on a variety of topics, from markets and the economy to specific industries.

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See our daily and weekly updates on the high yield market.

Recent Writings

Of Elephants and Rates – January 2014

As we enter 2014, we see several themes.  The economic consensus appears to believe that the “recovery” is in the beginning stages and the global all clear sirens have sounded,  and that Fed tapering will lead to higher interest rates across the board.  While this interest rate move may happen in the short run, demographics, liability driven investing, and a lack of global growth may surprise everyone and take interest rates nowhere.  We see the high yield market as positioned well in the year ahead irrespective of rates and that in a trendless 2014, true active management in all asset classes will be required.  Click here to view our year-end piece, “Of Elephants and Rates.”

Strategies for Investing in a Rising Rate Environment – December 2013

With unemployment still elevated, very moderate global growth, minimal inflation, and the Fed explicitly clear in the message that tapering does not mean tightening, all the while extending their low interest rate policy for the next couple years, it is unclear that a rapid rise in rates is on the horizon, especially given the big move we have already seen. But for the sake of argument, let’s assume that rates do rise even further.  What does that mean for the high yield market and the various “strategies” out there to deal with rising rates?  Click here to read our recent piece.

  • Peritus’ Tim Gramatovich will be speaking at the panel “High Yield: When Does Crowded become Over-Crowded” at the Inside Fixed Income Conference, being held at The Island Hotel in Newport Beach, California on October 22nd.

  • Tim Gramatovich, Chief Investment Officer at Peritus, will be a guest on the PBS “Nightly Business Report,” with Tyler Mathisen and Susie Gharib (available on-line and local PBS stations), for Thursday, October 2, 2014 to discuss the recent movements and opportunities in the energy and commodity markets.

  • Peritus was featured in the article “Why I Own HYLD” by Heather Bell in’s “ETF Report,” September 2014, p. 26.

  • Tim Gramatovich, Chief Investment Officer of Peritus, was quoted in the article “Digging into Debt” by Asjylyn Loder, in Bloomberg Markets, October 2014.

  • With the start of the football season, be sure to watch Ron Heller, CEO of Peritus Asset Management and Super Bowl XXIII winner, as he is a guest on Bloomberg TV on Wednesday, September 3rd, 2014 at 4:40pm ET to discuss markets and the start of the NFL season.

  • Tim Gramatovich was interviewed by TheStreet in a segment entitled, “Massive Outflows Do Not Spell Doom for High Yield Market” on Thursday, August 14, 2014.

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