We use the opportunity of an article in Bloomberg about a spate of recent bankruptcies to cool the rhetoric about what is happening in credit – especially where public BDCs are concerned.
Despite a robust earnings season, BDC sector prices continue to disappoint – a phenomenon now over a year old. To provide perspective we review how BDC prices have fared in the historical short, medium and long term and peer – as best we can – into what lies ahead.
BDC investors – after a fortnight of indecision – voted with their feet, causing a broad-based drop in prices. We review the numbers and offer a dark guess at what comes next.
Another quiet week for BDC prices, continuing a lull that began after the Silicon Valley Bank failure. Will the apparent closure of Republic Bank roil prices again going forward ?
All continues to be quiet on the BDC price front for yet another week. Even the news flow is slow. Will BDC earnings season – just a week away -bring about a change in what has been an up and down year so far ?
There was a little break in the clouds overhanging the BDC sector this week. We run the numbers and provide a wider perspective.
A compendium of all the BDC news for the week.
With the BDC Credit Table up to date, we review several timely developments borrowed from the BDC Credit Reporter’s latest research.
BDC sector prices slumped back in a holiday-shortened week as questions about the direction of the economy continue to swirl. The BDC Reporter highlights what key factor will determine the sector’s success or failure this year.
BDC investors crept back into the market in the last week of the quarter. We analyze how BDC prices have moved in this volatile quarter and offer both a Goldilocks and Bear case for the the future.
It’s the last week of what has been a topsy turvy first quarter of 2023.
Hot off The Presses. The leading venture-debt BDC is hooking up with a large asset manager to finance “venture and growth stage” companies. We discuss the implications.
Three weeks into the crisis brought on by Silicon Valley Bank, we review where BDC prices are headed and what could happen under two very different scenarios. This is a time to be very careful.
We kick off the week of March 20-24 with a BDC Credit Reporter article about a likely credit loss that affects 7 BDCs.
A week after the failure of the Silicon Valley Bank, the crisis continues in a different way. However, BDC investors seem to be watching and waiting going by the week’s metrics.
March 16, 2023 Update: Just added a review of CION Investment’s IVQ 2022 results.
At the close on March 13, 2023 5 BDCs reached new 52-week highs. We discuss why we believe this is “Breaking News” for BDC investors.
This was the week that changed everything for the BDC sector judging by what happened to market prices. We place the big price drop in a longer term context and discuss what the future could bring.
BDC earnings season might be coming to a close, but there should be plenty of new developments to keep the BDC News Feed populated.
Both anecdotal stories and aggregated bankruptcy data by us and others continues to indicate a credit deterioration is underway. Is it yet time to panic ? We address the question in our latest weekly credit recap.
