Canyon Up 2.6% In Q1, Anticipates Another Distressed Cycle In U.S

Canyon Capital’s latest commentary explains that the U.S economy is in between the aftermath of financial crisis and the next distressed cycle in corporate debt. Canyon, which is one of the leading credit funds based in the U.S, is managed by Mitchell Julis and Joshua Friedman. According to a quarterly letter reviewed by ValueWalk, Canyon Value Realization Fund netted a gain of 2.6% in the first quarter. Canyon continues to sell mortgage backed securities The fund’s net cash balance has increased in this year and is now nearly 14% of the assets. CVRF sold $200 million worth of RMBS in the first quarter…