The Rising Risks In The Private Credit Lending Bonanza

What this episode covers

Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more. VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/ __ Follow VanEck on Twitter https://twitter.com/vaneck_us Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Use code FG10 to get 10% off Blockworks’ Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london __ Timestamps: (00:00) Introduction (00:50) What Is Private Credit? (07:51) Private Credit Is Doing The Riskiest Deals In Leveraged Finance (16:04) How Will Private Credit Perform If Defaults Pick-Up? (Very Little Data In Previous Cycles Because The Asset Class Has Grown So Much) (19:24) Private Credit Is Very Illiquid (20:54) Debt Covenants In Private Credit Are, Admittedly, Usually Very Strong (26:31) VanEck Ad (27:14) Interplay Between Private Credit and Rest of Fixed Income Universe (32:35) Private Equity Is Using Private Credit To Pay Itself Via Dividend Recaps (35:13) Private Credit Is Refinancing Some Of The Riskiest Deals In Leveraged Loan Market, Which Perhaps May Be Bullish For Leveraged Loan (& High-Yield Bond) Market (38:00) Default Outlook In High-Yield Bond And Leveraged Loan Market (43:09) Moderately Bullish View On Duration (I.e. Rates) (58:43) Maturity Wall High-Yield Bond Is Very, Very Termed Out (01:02:56) Opportunities In Securitized Products Market Appear Interesting (01:04:57) Single Borrower Commercial Real Estate Loan Market Offers Interesting Opportunities To Fundamental Credit Investors (01:07:48) Most Common Investing Mistake In Credit: Herd Mentality __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

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How long is this episode of Forward Guidance?

This episode is 1 hour and 12 minutes long.

When was this Forward Guidance episode published?

This episode was published on February 16, 2024.

What is this episode about?

Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more. VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/ __ Follow VanEck on Twitter...

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