Discover and read the best of Twitter Threads about #highyield
Most recents (5)
#highyield credit watch 👀 - cracks starting to show? "Credit stress nearing critical zone (BofA) .. Investors fled risky assets over fears of a recession, pulling $3 billion from high-yield bonds & $1.9 billion from leveraged loans in the wk ended Sept. 28"; liquidity drying up?
Investors Balk at Risky Buyout Debt - bloomberg.com/news/articles/…
Even private credit direct lenders are pulling back from market - bloomberg.com/news/articles/…
🚨Worth studying: 👇
"The Anatomy of the Bond Market Turbulence of 1994" - Bank for International Settlements
link in thread below. 🧵
#banks #riskparity #assetallocation #risk #riskmanagement #rates #us10y #bonds
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"The Anatomy of the Bond Market Turbulence of 1994" - Bank for International Settlements
link in thread below. 🧵
#banks #riskparity #assetallocation #risk #riskmanagement #rates #us10y #bonds
1/
2/
Link to the paper from Bank of International Settlements
#banks #riskparity #assetallocation #risk #riskmanagement #rates #us10y #bonds
bis.org/publ/work32.pdf
Link to the paper from Bank of International Settlements
#banks #riskparity #assetallocation #risk #riskmanagement #rates #us10y #bonds
bis.org/publ/work32.pdf
3/
📉@FortuneMagazine's coverage in 2013 for the 1994 Great Bond Massacre.
#banks #riskparity #assetallocation #risk #riskmanagement #rates #us10y #bonds
fortune.com/2013/02/03/the…
📉@FortuneMagazine's coverage in 2013 for the 1994 Great Bond Massacre.
#banks #riskparity #assetallocation #risk #riskmanagement #rates #us10y #bonds
fortune.com/2013/02/03/the…
👇 #Foncia covenants are pretty grim 🤮 ... maybe even worse than #Ahlstrom... just a few examples of things you can do under the docs below... Message us for our full Legals QuickTake! #LevFin #HighYield
💸 Make Restricted Payments (dividends or investments capacity) while in Default or Event of Default, with no requirement to meet the most basic financial health test of 2.0x interest cover 🤷♂️
🤔Sell assets (incl. collateral) with no requirement to apply the proceeds to repay secured debt (or in some instances any debt at all).
Part 1 of 2
19M +3 wks fever, confusion. Exam notable👇. Brain MRI +frontal lobe masses. CSF: lymph pleo, low gluc. CSF/blood cx, viral PCRs, Histo/Crypto/Blasto/Cocci(-). IGRA/AFB smear/Cx (-). Brain bx: granuloma, +necrosis, AFB/GMS/Cx(-). No response to Abx. 👉 Part 2
19M +3 wks fever, confusion. Exam notable👇. Brain MRI +frontal lobe masses. CSF: lymph pleo, low gluc. CSF/blood cx, viral PCRs, Histo/Crypto/Blasto/Cocci(-). IGRA/AFB smear/Cx (-). Brain bx: granuloma, +necrosis, AFB/GMS/Cx(-). No response to Abx. 👉 Part 2
Part 2 of 2
Previously healthy, no PMH exc for recent dx of “skin TB” when he p/w nasal skin lesion 👆that showed granuloma w/ (-)AFB/GMS on skin bx. Started on RIPE 2 mos prior to presentation. Lives in rural Minnesota, (-)travel. Given SSx, w/c of the ff is the most likely Dx?
Previously healthy, no PMH exc for recent dx of “skin TB” when he p/w nasal skin lesion 👆that showed granuloma w/ (-)AFB/GMS on skin bx. Started on RIPE 2 mos prior to presentation. Lives in rural Minnesota, (-)travel. Given SSx, w/c of the ff is the most likely Dx?
1/11 50% got the right answer! Nice job. A case of Balamuthia mandrillaris.
Balamuthia, one of the free-living ameba pathogenic to humans (like Naegleria & Acanthamoeba). Like Acanthamoeba, causes granulomatous amebic encepahlitis (GAE).
Pic in MCQ from bit.ly/2YNQFjs
Balamuthia, one of the free-living ameba pathogenic to humans (like Naegleria & Acanthamoeba). Like Acanthamoeba, causes granulomatous amebic encepahlitis (GAE).
Pic in MCQ from bit.ly/2YNQFjs
The ever-expanding U.S. #leveragedloan universe has stopped expanding. In fact, it shrank by $10B in July, the biggest drop in 10 years. Institutional outstandings (loans sold to CLOs/other non-bank investors) now = $1.19T
... One reason the market shrank: Repayments of #leveragedloan debt have spiked recently, topping $26B in July alone. That's a lot. Some of this debt will return to the market via refinancings ...
... but a bunch won't. With rates dropping, retail investors increasingly are turning to fixed-rate #highyield mart, prompting a surge in bond-for-loan takeout activity this year. #leveragedloan
