Leaving LIBOR: How Did We Get Here and What Comes Next?

The London Interbank Offered Rate, better known by its abbreviation, LIBOR, has been a key economic benchmark interest rate for decades. However, in 2017, the Financial Conduct Authority (FCA) announced it would phase out LIBOR, potentially impacting trillions of dollars of financial instruments linked to the rate, especially those in the structured credit and interest…

Read More

Understanding CLOs: Exploring the Impacts of Various Dynamics on Market Spreads

With a potential wave of CLO supply hitting the market in October, largely from refinancing and reset transactions of existing deals, investors are preparing for a spread widening event. While it is almost assured that the refinancing and reset calendar will be heavy in October, the overall effect on market spreads is less clear. In…

Read More

U.S. Housing Outlook: The Case for Continued Strength

The U.S. economy has experienced strong growth in recent years, led in part by a booming housing market that has significantly recovered from the years following the financial crisis. Higher home prices and increased homeowner equity have fueled consumer confidence, serving as a foundation for robust economic growth. However, recent macroeconomic data has indicated potential…

Read More