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BDC Common Stocks Market Recap: Week Ended August 31, 2018

Posted by Nicholas Marshi, BDC Reporter on Sep 5, 2018 4:44:53 PM

BDC COMMON STOCKS

Ended Well

Like a good beach novel, the BDC sector ended the summer in a satisfying manner.

The UBS Exchange Traded Note with the ticker BDCS – which is based on the Wells Fargo BDC Index – and which we use as a sector proxy, closed at $21.00.

That was 1.50% above the prior week’s end.

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Topics: Loans, BDC, debt, business development company, Fixed Income, News

European Bond Research as of February 14, 2017

Posted by Michael F. Brown on Feb 14, 2017 4:04:39 PM

EUROPEAN HIGH-YIELD BONDS RETAINED FAVOR - although a narrow one, over a range of investment-grade securities. Disappointing GDP numbers for Germany and the overall euro-bloc weighed upon 'risk-on' trades, as did views of increased French political risk ahead of an upcoming presidential election. Nonetheless, a residual bullish tone after yesterday's resurgence in risk-taking in Europe and 'across the pond' in the U.S. was in play, on the heels of fresh record highs in Dow, S&P 500, and Nasdaq.

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Topics: High Yield, Investment Grade, debt

European Bond Research as of January 31, 2017

Posted by Molly Housel on Jan 31, 2017 4:33:46 PM

'RISK-OFF' SENTIMENT WAS TONED DOWN relative to yesterday's levels, among a spectrum of European corporates. Investment-grade debt edged out junk bonds in net price gains nonetheless, amid continued attention to political risk emanating from 'across the pond' on the U.S. front. Corporate-bond investors took sector cues from gains in Deutsche Bank AG shares, moving up 2.1% before profit-taking set in. Upbeat views on financials were offset a bit by a 3.4% pullback in Italy's  UniCredit SpA, as of 4 PM, London time. However, gains in retailer Hennes & Mauritz AB, Ocado Group PLC, and Alfa Laval AB buoyed the pan-European Stoxx 600, limiting its descent into the shallow red.

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Topics: High Yield, Investment Grade, debt

European Bond Research as of January 25, 2017

Posted by Molly Housel on Jan 25, 2017 12:12:02 PM

Expansive tone continued to build regarding a spectrum of risk-assets, leading European junk debt to draw a fresh wave of bids along with equities. A strong showing by the banking sector was kindled by upbeat earnings from  Santander SA, sending the Spanish bank's shares up 4.7%. The news carried along a range of other European banks as well, including France's Societe Generale SA and Germany's Deutsche Bank AG. A rally in Logitech International SA, posting share gains of over 15.5% as of 4PM London time and supporting the European tech group, provided additional sector cues to corporate-bond traders.

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Topics: High Yield, Investment Grade, debt

European Bond Research as of January 17, 2017

Posted by Molly Housel on Jan 17, 2017 2:18:04 PM

Defensive bias stepped higher, amid increasing attention by investors to statements by the U.K.'s Theresa May, and the U.S.' Donald Trump. Accordingly, investment-grade bonds easily outpaced junk debt on the European front, reflected in price gains linked to actual trades. High-yield bonds in the banking and retail sectors gave up some of last week's gains, while airline securities followed Lufthansa shares higher.

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Topics: High Yield, Investment Grade, debt


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