After being closed for two days due to Hurricane Sandy, the high yield market is opening generically higher this morning, but many desk remained less than fully staffed as the cleanup is just getting started and many are still dealing … Continue reading →

Last week the U.S. high yield market set a calendar-year issuance record.  So far this year, issuance has been $291.7 billion versus the prior full-year record of $287 billion set in 20101…and we still have two months left to go … Continue reading →

Q3 earnings took their toll on equity markets this week, resulting in the biggest one week decline since early May, with the S&P 500 Index returning -1.48% for the week.  Market drivers have been much more macro focused in recent … Continue reading →

High yield was flat yesterday with three new issues pricing and low secondary volume.  Weekly AMG data showed a very small inflow of $9.5 million while EPFR data showed a weekly outflow of $107 million. Three new high yield deals … Continue reading →

The high yield market was flat yesterday, as equities opened higher, only to weaken throughout the day and finish in the red. There were outflows of $100 from the high yield market yesterday, with the break down being $93mm from … Continue reading →

Tim Gramatovich, Chief Investment Office of Peritus, will be featured on the radio show “Winning Strategies,” Friday, October 26th, at noon (central time).

We’re opening with a better tone this morning after high yield took it on the chin yesterday on disappointing earnings and continued uncertainty surrounding the upcoming election, fiscal cliff and Euro zone crisis weighing on risk markets. The barrage of … Continue reading →

The foundation of Peritus’ investment philosophy is that all credit research is generated internally and we view credit as either “AAA” or “D,” placing limited value on rating agencies and their methodologies.  Why does this matter?  Let’s point to a … Continue reading →