RBC Global Asset Management - Fri, 07/19/2024 - 15:24

The Navigator: Not your father's LevFin market

In this episode of The Navigator, Senior Portfolio Manager Tim Leary and Head of Client Solutions Jason Pasquinelli discuss the evolution of the leveraged credit market, including our thoughts on leveraged loans, broadly syndicated loans and public high yield bonds. In some ways, these different elements of the leveraged credit market are in competition with one another, leading to misconceptions for investors. Join us as Tim and Jason address the current state of the market, where we are finding opportunities, and the potential for volatility driven by the upcoming elections in the US.

Key points:

Leveraged credit – market that has grown considerably and is made up of public high yield, private loans, and broadly syndicated loans.
It’s a misunderstand asset class that has matured.
There have been significant assets flows year to date.
As leveraged loans have grown, lower rated credits have moved out of public HY – improving the overall credit quality of high yield bonds.

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