November 14, 2018
OCTOBER: Credit indices fell alongside equities in October, while rising interest rates weighed heaviest on the Barclays Agg. Equities and high yield credit declined in a volatile trading month. Senior Secured Loans generally held steady and captured upside to October’s rising rates, which caused the Barclays Agg to trade down.
October 12, 2018
SEPTEMBER: Strong corporate and economic data caused high yield bonds and senior secured loans to rally. High duration portfolios, like the Barclays Aggregate, continued to struggle amidst rising rates. High yield bonds generated its strongest quarterly return since Q1’17.
April 17, 2018
MARCH: 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. Investments with lower durations, such as senior secured loans, have outperformed thus far in 2018 and may display lower levels of volatility if short-term interest rates rise further.