Chill In The Air
The BDC sector’s upward trend stalled again this week.
The Wells Fargo BDC Index dropped (1.3%).
Likewise, BDCS – the UBS Exchange Traded Note – saw its stock price drop (0.9%) to $20.72.
That’s the lowest level for BDCS in 5 weeks.
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Topics: Loans, Middle Market, Analytics, BDC, market analytics, business development company, Losers, Fixed Income, News, bdc reporter
May You Live In Interesting Times
BDC Fixed Income – which most of the time is as exciting as watching paint dry – is in the midst of a dramatic period of change.
First of all – and the primary focus of our weekly Market Recaps – the prices of existing issues are dropping.
We noted as much last week, and the phenomenon continued this week.
The median price of the now 38 different public BDC issues we track dropped to $25.21, from $25.29 and $25.35 two weeks before.
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Topics: Loans, Middle Market, Analytics, BDC, market analytics, business development company, Fixed Income, News, bdc reporter
Behaving Itself
“We’ll stick with the party line of these past few weeks and project that we still expect BDC prices to move higher in the short term.
Or, at the very least, remain in this narrow channel a little longer”.
That’s an extract from the BDC Reporter’s sentiment last week, which turned out to be a fair summary of what happened through September 21, 2018.
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Topics: Middle Market, BDC, market analytics, business development company, Fixed Income, News, bdc reporter
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