As the risk free yield continues to drop, BDC Fixed Income prices moved up, but only slightly. We also discuss the latest unsung development over at Medley Management and predict what the rest of 2019 might bring in term of prices and new activity.
A strange week for the broad markets, which filtered through to the BDC sector. We discuss short and longer term price trends; developments out of the SBA that could have major sector ramifications and note early signs of weakness in the credit markets that might make headline status in the weeks ahead.
The risk free rate hits a new low but BDC Fixed Income prices remain unmoved. We discuss market prices; credit ratings past and future and close with a three year chart.
We update the just announced redemption date for one of Newtek Business Services’ Baby Bonds.
In a routine week for BDC Fixed Income prices, there were two major developments worthy of attention.
Newtek Business issues one Baby Bond to redeem another. We discuss who gains and who loses in this latest development in the world of BDC Fixed Income, which is poised for more change.
For the second time in a 6 week period Newtek Business increases its projected 2018 distribution, as anticipated in the BDC Reporter’s Dividend Outlook. We discuss our new dividend rating for NEWT.
Mixed messages about the short term direction of the BDC Sector. The BDC Reporter, though, quantifies how drastically the shape of the sector will change in the next 2 years and which could yet cause BDC prices to shift.
Once again, the BDC Reporter’s Dividend Outlook projection pans out. In this case, Newtek Business Services retains membership in an exclusive BDC club.
Nothing lasts forever, specially BDC common stocks upward momentum. This week, the sector dropped back. Harbinger or brief pause ?
BDC Fixed Income prices do nothing very surprising on the week. However, the BDC Reporter is startled by Prospect Capital’s newest Baby Bond offering and its implications for the BDC debt market more generally.
An uneventful week where BDC Fixed Income prices are concerned. The BDC Reporter, though, has been musing about debt, risk and frogs.