Chart of the week

Showing 7–12 insights out of 333 results
Mar 7, 2025
By Research
2 minute read
Chart of the week

Middle market resilience amid trade uncertainty?

The private U.S. middle market may represent a compelling opportunity as companies in this sector face less disruption from global supply chains.

Column chart showing the percentage of foreign revenues among S&P 500 companies (34%) and private U.S. middle market firms (16%), compared to exports as a percentage of U.S. gross domestic product (11%). Because U.S. middle market companies operate mostly within the confines of the U.S., they may represent an attractive opportunity as trade volatility whipsaws the S&P 500.
Feb 28, 2025
By Research
2 minute read
Chart of the week

As Treasury yields rise, so has stock-bond correlation

Stock-bond correlation sits at a 75-year high today as the era of easy diversification may be over amid a higher-for-longer rate environment.

Line chart showing the 30-day rolling correlation between the S&P 500 and the Bloomberg U.S. Aggregate Bond Index, paired with the 10-year Treasury yield, as stock-bond correlations have moved in tandem over the past year. Over a longer period, the rolling 3-year correlation between stocks and bonds began to spike in early 2002, as the Fed began to aggressively hike rates, and today sits at a 75-year high of 0.67
Feb 21, 2025
By Research
2 minute read
Chart of the week

Private credit yield premium hits a four-year high

Private credit has traditionally offered a yield premium over public credit markets. It has widened meaningfully today. Spreads tell a similar story.

Line chart showing yield on upper middle market private credit and B-rated syndicated loans since November 2021. While the yield differential between the two has evolved over time, private credit’s yield premium reached a three year high as of January 31, 2025, and is nearly double its average since January 2021.
Feb 13, 2025
By Research
2 minute read
Chart of the week

Public market sentiment cools as challenges mount

Individual and professional investors have grown notably more bearish in February. The U.S. middle market may represent a reason to be bullish.

Line chart showing the increasingly bearish sentiment among retail investors (orange line) as a range of market challenges mount. The 10-year Treasury yield 10-year Treasury yield (black line) has risen meaningfully as investors expect rates to remain higher-for-longer. Investors cite elevated valuations and the political environment as other notable challenges.
Feb 7, 2025
By Research
2 minute read
Chart of the week

The exit advantage of middle market private equity

While higher interest rates have challenged the private equity exit environment, middle market investors have experienced much less disruption.

Line chart comparing the ratio of U.S. buyout exits to investments over the past decade across the entire U.S. private equity market and the U.S. middle market. Higher interest rates have challenged the private equity exit environment broadly over the last few years, yet middle market investors have experienced much less disruption as they are less sensitive to elevated interest rates than large/mega cap PE.
Jan 31, 2025
By Research
2 minute read
Chart of the week

Income will likely drive CRE returns again

As the CRE market reverts toward a more normalized environment, income-centric strategies could return to favor.

Column chart showing the breakdown of commercial real estate (CRE) returns by decade. Income represented the large majority of CRE’s total return during the 1980s, 1990s and 2000s. During the 2010s, price appreciation drove returns fueled by the Fed’s extended zero interest rate policy combined with a steady decline in capitalization rates. Income has again played its customary role in the current decade as the market reverts toward a more normal environment favoring income- centric strategies.
Showing 7–12 insights out of 333 results

Search our site