Bite size updates on the Australian Business Securitisation Fund, securitisation downgrade risks, TLAC and Deutsche Bank
Credit
How a “Bear” Outperforms in a Rising Market
How is it possible that a “bear” can position their portfolios for the likelihood of a credit downturn and continue to outperform?
Credit Snapshots – April 2018
Covenant Lite You know it’s late in the credit cycle when credit investors give away their key protections in return for just a little more yield. This acquiesce comes in different forms, including higher levels of leverage, longer dated debt, subordinated debt and weakened or eliminated covenants commonly referred to as “covenant lite”. This risk […]
Credit Snapshots – March 2018
Bite size updates on the Libor spike, Toy’s R Us, franking credit changes and the Banking Royal Commission
Credit Snapshots – February 2018
Bite size updates on US government debt, Chinese margin lending and bank capital
Credit Snapshots
Bite size updates on high yield spreads, Puerto Rico, Venezuela and China.
The Truth about Liquidity for Debt Securities
This article corrects much of the current discussion about liquidity for debt securities and puts forward the key things to focus on.
Why Volatility Matters for Credit Investing
This article discusses why credit investors should consider the potential volatility of the companies they lend to with examples provided of good and bad risks