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Why Credit Conditions Have Actually Eased Over Past Year | Oaktree’s Wayne Dahl on High-Yield Bonds, Leveraged Loans, Private Credit, and the Recession Yet To Arrive
Manage episode 431312775 series 3300108
Forward Guidance is sponsored by VanEck. Learn more about the VanEck Morningstar Wide MOAT ETF (MOAT) at https://vaneck.com/MOATFG.
Follow VanEck on Twitter https://x.com/vaneck_us
Follow Jack Farley on Twitter https://twitter.com/JackFarley96
Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance
Follow Blockworks on Twitter https://twitter.com/Blockworks_
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Timestamps:
(00:00) Introduction
(01:36) The High-Yield Bond Market
(10:08) VanEck Ad
(10:48) Putting Money To Work When Credit Is Priced Optimistically
(19:27) The Bank Loan Market (i.e. Leveraged Loans)
(25:04) How Are Loan Borrowers Handling 500 Basis Points Of Increased Debt Costs?
(28:59) Permissionless Ad
(29:58) The Rise of Private Credit: Are We In The Golden Age?
(41:34) Is Private Credit An Untested Asset Class In A Potential Recession?
(46:53) What Is The Private Credit Money Used For?
(52:57) Why Do Active Managers Manage To Outperform The Index In Credit, When In Equities So Many Underperform?
(58:51) Loan Refinancings Are Occurring At A Record Pace
(01:03:02) Structured Credit And Non-Agency RMBS (Residential Mortgage-Backed Securities)
(01:04:40) Specialty Retail and Emerging Markets
(01:07:02) Commercial Real Estate (CRE)
__
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
416集单集
Manage episode 431312775 series 3300108
Forward Guidance is sponsored by VanEck. Learn more about the VanEck Morningstar Wide MOAT ETF (MOAT) at https://vaneck.com/MOATFG.
Follow VanEck on Twitter https://x.com/vaneck_us
Follow Jack Farley on Twitter https://twitter.com/JackFarley96
Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance
Follow Blockworks on Twitter https://twitter.com/Blockworks_
__
Timestamps:
(00:00) Introduction
(01:36) The High-Yield Bond Market
(10:08) VanEck Ad
(10:48) Putting Money To Work When Credit Is Priced Optimistically
(19:27) The Bank Loan Market (i.e. Leveraged Loans)
(25:04) How Are Loan Borrowers Handling 500 Basis Points Of Increased Debt Costs?
(28:59) Permissionless Ad
(29:58) The Rise of Private Credit: Are We In The Golden Age?
(41:34) Is Private Credit An Untested Asset Class In A Potential Recession?
(46:53) What Is The Private Credit Money Used For?
(52:57) Why Do Active Managers Manage To Outperform The Index In Credit, When In Equities So Many Underperform?
(58:51) Loan Refinancings Are Occurring At A Record Pace
(01:03:02) Structured Credit And Non-Agency RMBS (Residential Mortgage-Backed Securities)
(01:04:40) Specialty Retail and Emerging Markets
(01:07:02) Commercial Real Estate (CRE)
__
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
416集单集
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