Does interest rate renormalization = corporate default renormalization?

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The Wall Street Journal quotes Christina Padgett, head of leveraged finance research at Moody's Investors Service Who said: "Leverage is getting back to where it was pre-crisis. After the crisis, companies were behaving more conservatively and … [Read more...]

Evaluating Credit Market Risk vs. Return

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Steve Martin once said, “A day without sunshine is like, you know, night.” Can you think of anything more obvious? Here’s one: when you make a loan, it’s important to get your money back. Granted, it’s not as funny, but it’s equally … [Read more...]