More of our insights
Credit market commentary: June 2018
High yield bonds and senior secured loans gain in June. Yield curve flattens on rising rate expectations.
Credit market commentary: May 2018
Interest rate sensitivity drove returns during the month as higher-duration assets tended to outperform as 10-year Treasury rates fell.
Credit market commentary: April 2018
As interest rates rose, high yield bonds and senior secured loans outperformed more duration-sensitive asset classes.
As rates rise, duration moves to the forefront
Investment grade bonds’ yield and lengthening duration over time
Credit market commentary: March 2018
Benefiting from their floating rate coupon and position at the top of the capital structure, senior secured loan prices remained relatively steady in the face of rising short-end U.S. Treasury yields and a decline in U.S. equity prices.
Credit market commentary: February 2018
Investments with lower durations, such as senior secured loans, have outperformed so far in 2018 and may display lower levels of volatility if U.S. Treasury yields rise further.