Last week we discussed that despite the recent rebound in the high yield market, we still see value to be had in this space (see “Too Far Too Fast?”).  Not only do we currently view actively managed high yield bonds …

We have seen a pretty sizable bounce back in the high yield market off of its February 11th lows, with spreads declining and prices rising.1 This leads to the question, have we come too far too fast?  We believe that …

We continued to see the broader high yield market rebound in April after hitting multi-year lows in mid-February, despite bankruptcies accelerating as we had expected. Looking at market technicals, as we have seen buyers and interest come back into the …

We have been active in the credit markets for decades and we see the primary risk for credit investors is default.  While interest rates play a role in all asset classes, they historically have a very limited effect on a …

After working to sizably cut our energy allocation in early 2015 as we expected the volatility in oil to continue, we are now selectively adding a few energy names to our portfolio.  Since we have been clanging gongs for a …

As we look at the high yield market, we see decent market fundamentals.  While it would be a normal occurrence to see companies re-lever themselves after six years into a cycle, we have seen little of this type of bad …