PG&E bonds may have boosted Canyon Capital’s January returns [Exclusive]
The Canyon Balanced Fund was up 0.26% net in January. The CS Leveraged Loan Index was up 0.53%, while the Bloomberg Barclays US Corp HY Index was up 0.03%. The Russell 2000 was down 3.21%, and the S&P 500 was down 0.4%.
Flight to safety
In their January letter to investors, which was reviewed by ValueWalk, Canyon Capital Advisors noted that stock indices reached record highs in the first half of the month following the phase one trade deal between the U.S. and China.
However, stocks and other risk assets sold off . . .
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