BDC Common Stocks Market Recap: Week Ended September 20, 2019

Posted by Nicholas Marshi, BDC Reporter on Sep 23, 2019 10:31:30 AM

BDC COMMON STOCKS

On A Run

For the fifth week in a row, the BDC sector ended up in price on the week. The upward push appeared to have taken on a life of its own.

In prior weeks, the hike in BDC prices seemed to be tied to the upward direction of the broader markets. This week, however, BDCS – the UBS Exchange Traded Note which includes most BDC stocks and which we use as our gauge of price change – was up 0.9% while the S&P 500 was down (o.5%).

Since Friday August 16, the last time the BDC sector was down for the week till this last Friday, BDCS is up 2.6% and the S&P 500 2.3%. We don’t know what’s more intriguing: that the two indices are so close or that BDCS is (slightly) ahead of the S&P. (That’s not traditionally the case: YTD the gap is 5% in favor of the latter and over 5 years 69%! Of course, distributions are much higher for BDCs than the S&P 500).

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Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research

BDC Common Stocks Market Recap: Week Ended September 13, 2019

Posted by Nicholas Marshi, BDC Reporter on Sep 16, 2019 2:00:00 PM

BDC COMMON STOCKS

Surprising

Notwithstanding the absence of any BDC sector news, prices continued to rise for a fourth week in a row.

As of September 13, 2019 the UBS Exchange Traded Note with contains most of the 46 public BDCs we track – and which has the ticker BDCS – closed at $20.08.

That was 1.75% higher than the week before.

Likewise, that other barometer of BDC price performance – the Wells Fargo BDC Index – reached 2,793.76.

BDCS is not at a record level, but the Wells Fargo measurement – which provides a “total return” – was again at a new year-to-date high for a second week in a row.

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Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research

BDC Common Stocks Market Recap: Week Ended September 6, 2019

Posted by Nicholas Marshi, BDC Reporter on Sep 10, 2019 8:55:39 AM

 

BDC COMMON STOCKS

Becalmed

There was very little to move the BDC common stock market sector in the week ended September 6, 2019. No BDC reported earnings and the news flow was pretty weak.
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Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research

BDC Common Stocks Market Recap: Week Ended August 30, 2019

Posted by Nicholas Marshi, BDC Reporter on Sep 3, 2019 11:28:45 AM

BDC COMMON STOCKS

Denial

This was the week that the major markets decided not to worry so much about tariffs; global economic slowdown and the threat of war or military intervention just about everywhere.

As a result, the S&P 500 increased 2.79% and the other key indices moved up as well.

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Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research

BDC Common Stocks Market Recap: Week Ended August 23, 2019

Posted by Nicholas Marshi, BDC Reporter on Aug 27, 2019 12:40:27 PM

BDC COMMON STOCKS

Peculiar

This was a curious week for the broader markets – and for the BDC sector – pulled in different directions.

At the beginning of the week, the major indices were bouncing back from global economic concerns; tariffs troubles, etc.

However, then there was the end of week hardening of the Chinese and U.S. stance and stock market prices went to heck, and bond prices rose.

Just to provide a sense of context, the S&P 500 dropped (1.44%) on the week.

(By the way and just as an FYI, the index is now down 4 weeks in a row).

On Friday alone the S&P dropped (2.6%).

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Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research


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