BRIEF – Sixth Street Specialty Reaches New 52 Week High
The stock price of Sixth Street Specialty Lending (TSLX) has just reached a new 52 week high of $24.75. We find this a little ironic given that the BDC’s CEO (and Co-Chief Investment Officer of Sixth Street Partners) – Josh Easterly – has been going around in recent weeks complaining – to quote Bloomberg – “that shifting fundamentals in credit markets pose a risk that many investors are overlooking, citing a mismatch between capital and valuable opportunities to deploy it” and that investors are underestimating the impact of interest rate and credit spread risk, and that today’s yields will not be the same as tomorrow’s yields, especially as rates are cut in the future. Apparently the markets like some truth telling, even when its bad news for the truth teller and its shareholders.
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