perspectives

09 Apr 2016 Voya Senior Loan Group – ‘Talking Points’ Weekly Update (incl. March in Review)

Posted at 12:47h

Hitting a Higher Note - Well-rated and highly regarded new issue made the headlines last week as the bumpy first quarter ended on a better note relative to where it started. The index was up 0.25% on the week, with average bids moving to 91.67, a 16 bps increase over the week prior.

29 Mar 2016 Fixed Income Perspectives – ‘The Big Dance’

Posted at 15:48h

As the (U.S.) 2015–16 college basketball season approaches its climax on the court, developed market central banks have engaged in a bit of March Madness of their own, turning to new pages of their monetary policy playbooks as they struggle to bolster economic growth, inflation and labour productivity.

05 Mar 2016 Voya Senior Loan Group – ‘Talking Points’ Weekly Update (incl. February in Review)

Posted at 10:20h

Better Tone Lifts average Bids, Weekly Return - Consistent with the reduction in downside volatility in oil and other capital markets, loans maintained a minor course correction this week.

28 Feb 2016 Fixed Income Perspectives – ‘Here Come the Monkeys’

Posted at 10:44h

Here in the Year of the Monkey, the yin of slowing economic activity is battling the yang of stable (to possibly rebounding) oil prices for influence over inflation. At this point, we expect the latter to prevail.

20 Feb 2016 Voya Senior Loan Group – ‘Talking Points’ Weekly Update

Posted at 09:20h

All Quieter on the Loan Market Front - Despite a bounce in broad capital markets, movement in the loan market was more tempered this week as a result of current market technicals.

06 Feb 2016 Voya Senior Loan Group – ‘Talking Points’ Weekly Update (incl. January in Review)

Posted at 10:46h

Looking for Direction - With most capital markets still moving lower, the loan market looked inward last week to focus on fundamental credit as new issue and secondary markets both offered fairly light activity.

03 Feb 2016 White Paper – 2016 Long-Term Capital Market Forecasts

Posted at 13:06h

Cyclically sensitive assets like equities and the riskiest credit instruments are likely to provide risk-adjusted returns superior to those of most fixed income assets, particularly government bonds, over the ten-year horizon, though the relative attractiveness is becoming more balanced than it was a year ago.

29 Jan 2016 Fixed Income Perspectives – ‘Under Pressure’

Posted at 11:02h

The new year has begun with a series of losses, but we think some convergence between the markets and the global economy will emerge by the end of the first quarter.

15 Jan 2016 Voya Senior Loan Group – 2015 Market Recap and 2016 Outlook

Posted at 15:52h

2015 Market Recap and 2016 Outlook - Despite solid performance in the first half of the year, the loan market’s total return fell short of initial expectations, as volatility across broad capital markets weighed on loan prices beginning in late summer and continuing through the end of the year.

22 Dec 2015 Fixed Income Perspectives – “The Fed Awakens”

Posted at 09:32h

The market did not like the Fed’s message that the December hike was essentially a done deal, causing rates to rally and the yield curve to flatten, a classic reaction to the perception of an inappropriate hike.