Exclusive: GoldenTree Sees Opportunities As Bond Recovery Rates Hit Record LowsRupert Hargreaves
The specialist distressed investing firm GoldenTree Asset Management noted in its February credit market update that distressed credit recovery rates are currently at record lows despite the improving economic outlook.
The update noted that credit markets delivered mixed returns in February as rates moved markedly higher during the month, producing negative returns for rate-sensitive asset classes.
However, high yield markets posted modestly positive returns, and strong inflows into the loan market push the average price of loans to par. The letter went on to add.
Volatile fund flows
Volatile fund flows could create opportunities, the update noted. In February . . .
This content is exclusively for paying members.
If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.