Q3 2022 Corporate credit outlook: Quality time
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Q3 2022 Corporate credit outlook: Quality time
Join Head of Investment Research Rob Hoffman as he outlines his thoughts on areas of opportunity in credit markets for second half of 2022.
As investors seek quality, broadly syndicated loans wilt
As investors seek higher quality investments, this week’s chart looks at the loan market’s gradual move down in quality.
Unrelenting inflation has exaggerated rate volatility
This week’s chart looks at daily yield changes on 2-year and 10-year Treasury yields as rate volatility in 2022 has dwarfed that of last year.
Credit market commentary: June 2022
Volatility roared back in June. High yield bonds lost -6.8%, their worst month of 2022, while loans were down -2.16%. This marked the first back-to-back monthly declines of greater than 2% for loans since 2008.
The Agg completes its worst-ever start to a year
Halfway through 2022, this week’s chart revisits the Agg’s monthly returns as expected rate volatility spikes.
Credit market commentary: May 2022
This year’s credit market dynamics reversed course sharply in May. Senior secured loans declined as long-term interest rates and rates volatility fell last month.