Asset Class Weekly: High Yield Blood Bath

It was just one month ago that I wrote my latest update from the high yield battlefront. Conditions were already dire with oil prices still hovering just above $38 per barrel. Of course, the last month has seen overall market conditions go from bad to worse. Not only has oil fallen by another -25% to below $30 per barrel, but the high yield bond market itself has shed another -6%. This raises an worthwhile question: following this latest decline, are we now nearing a bottom in the high yield bond market, or is the worst still yet to come?

Please click on the link to read more of my article on Seeking Alpha.

Stocks: Worst Week Ever, Better Days Ahead

The U.S. stock market got off to its worst start to a calendar year in history. In the first five days of 2016, the S&P 500 Index plunged by -6%. Following this latest of many unprecedented market events during the post crisis period, it is worthwhile to consider what we should expect from here from financial markets.

Please click on the link to read more of my article on Seeking Alpha.

Asset Class Weekly: Hope Floats, Senior Loans Not So Much

Investors have flocked to the senior loan market in recent years. A number of unique characteristics made this category particularly appealing for those starving for yield. But much like their high-yield brethren, they have been under pressure in recent months. How much will the attributes that make senior loans special provide protection and how much are investors at risk?

Please click on the link to read more of my article on Seeking Alpha.

Asset Class Weekly: From The High-Yield Bond Battlefront

Capital markets are under fire. Just two weeks ago, Asset Class Weekly focused on the troubles that were brewing in the high-yield bond market. What a difference two weeks make. For while many investors are getting ready to settle in for the holiday season, a growing number of debtors in the high-yield bond market are fighting for survival. Given the rapid pace of the descent in high-yield bonds over the past two weeks, it is worthwhile to check in with the latest from the high-yield bond market.

Please click on the link to read more of my article on Seeking Alpha.

Asset Class Weekly: Preferred Stock Collateral Damage

The preferred stock market has come to be seen by many investors as a refuge in post financial crisis markets. Price performance has been notably consistent and income has been relatively generous at a time when those living on fixed incomes are starving for yield. And unlike other high-yielding markets such as high-yield bonds and master limited partnerships, it has not fallen victim in recent years to sudden bouts of unsettling downside volatility. But, for those allocated to the preferred stock space, now is not the time for complacency. Preferred stocks have not been without their own past periods of extreme downside volatility. And the asset class resides worryingly close to the current wildfires now blazing in the high-yield bond market.

Please click on the link to read more of my article on Seeking Alpha.

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