Average annual earnings and effective federal funds rate

Where does it leave investors when Fed rate hikes are barely budging rates on bank deposits?

Volatility roared back in the first half of 2018, offering a powerful reminder of the impact that swings in the market can have on investors’ portfolios. Building a well-diversified portfolio can help investors navigate volatility to avoid extreme losses.

FS/KKR Advisor, LLC (FS/KKR), a partnership between FS Investments and KKR Credit that serves as the investment adviser to six business development companies (BDCs), announced today that a new $3.435 billion, five-year senior secured omnibus revolving credit facility that matures in August 2023 has closed.

FS Investment Corporation (NYSE: FSIC), a publicly traded business development company focused on providing customized credit solutions to private middle market U.S. companies, announced its operating results for the quarter ended June 30, 2018, and that its board of directors has declared its third quarter 2018 regular distribution.

HY Bonds and Senior Secured Loans outperformed the Barclays Agg as retail inflows supported the leveraged credit markets on the back of strong monthly returns for U.S. equities.

Despite a moderate decline in oil prices, July was another positive month across the energy sector. Midstream equities were the top performers for the month, with MLPs in particular rallying. A revised regulatory ruling from FERC contributed to a positive backdrop for the midstream sector.

Several of the drivers behind the long-running bull market and economic recovery are evolving.