Credit market commentary: March 2019
Treasury rates fell following the Fed’s dovish tone at their March meeting, boosting the more duration-sensitive Barclays Agg.
Energy market commentary: February 2019
Energy markets continued to bounce back from Q4 lows. Oil prices rose moderately as OPEC has started to implement planned production cuts. Q4 midstream earnings were generally solid and investors may finally be getting comfortable with the space.
Credit market commentary: February 2019
Credit markets continued their fast start to the year, posting solid returns in February. The duration-sensitive Barclays Agg declined modestly, underperforming credit indices.
Energy market commentary: January 2019
Energy markets recovered meaningfully as oil prices bounced back from December lows. Oil prices were supported by OPEC+ production cuts and U.S. sanctions on Iran and Venezuela. The wave of MLP simplifications is in its later stages and may be a positive for investors going forward.
Credit market commentary: January 2019
Following a month of heightened volatility, the leveraged credit markets rebounded in January. High yield bonds posted their largest monthly return since 2009 and senior secured loans erased all of the declines experienced in December.
Energy market commentary: December 2018
Energy markets declined sharply as oil prices fell and equity markets sold off. Crude oil fell another $5.26/bbl amid continuing concerns of a supply glut. The recent energy sell-off has pushed midstream valuations to multi-year lows.