How long will Treasury rates stay near zero? This week’s chart compares today’s ultra-low yields to those during the global financial crisis.

Here we analyze the potential impact of COVID-19 on the CRE debt market by examining the market’s performance during the 2008 GFC and comparing the state of the pre-GFC and pre-COVID markets.

A letter from Chairman and CEO Michael Forman to FS Investments colleagues on recent events

Midstream led a continued recovery for the broader energy sector in May. While falling production volume is a negative for midstream, many firms have protections in place to help mitigate impacts.

Steps to reopen the economy and progress toward a COVID-19 vaccine created an optimistic sentiment for much of the month, as HY Bonds, Senior Secured Loans and structured products posted strong returns. Interest rates remained relatively rangebound and the duration-sensitive Barclays Agg had a slight gain.

Contrarian bull/bear signals? Our chart on the mismatch between stock performance and sentiment shows why investors may want to prepare for a pullback.

The what, how and why of an asset class that we believe presents more opportunity than many think.