The markets endured significant turbulence in August as investors wrestled with a deepening global economic slowdown and a menacing trade war. A deluge of gloomy reports around anemic growth, which has been stubbornly resistant to central bank stimulus, has bolstered fears of an impending recession. The U.S.-China trade war has entered a new phase, impacting … Continued

Though equity investors initially cheered lower interest rates as bond investors lament a race to the bottom in yield, the mood has suddenly turned. For the first time in ten years, the Federal Reserve cut interest rates by 25 bps, reshaping the economic and investment landscape. On top of the Fed’s “insurance policy” against a … Continued

There has been a plethora of articles and reports about Environmental, Social, and Governance (ESG) investment issues, as well as on Socially Responsible Investing (SRI), during the last three months. Several key trending topics include issues on opioids and private prisons. Additionally, the Principles of Responsible Investing (PRI) released the results of their respondents’ annual … Continued

In this quarter’s newsletter, we review the recent performance of the global leveraged finance markets as well as highlight the market changes in leveraged debt.   Please click HERE to read more

With recent media focus on the leveraged loan market, many misconceptions have surfaced surrounding the asset class.  Politicians and financial pundits have raised concerns over the size and growth of the loan market, covenants, and perceived similarities between CLOs and CDOs. Please click HERE to read more.

The bruising trade battle with China over economic, military, and technological supremacy could play out over many years with far-reaching implications. One of the most notable developments is the use of currency as a tool of foreign policy. The ubiquity of the U.S. dollar has played a major role in global commerce. Though China has … Continued

Those who sold in May and went away were hit with seller’s remorse in June. The sharp drawdown in May was erased as the S&P 500 Index gained 6.9%. Make no mistake, it was all about the Fed’s further pivot to the dovish side. Inflation expectations in most developed countries continued to drift lower, and … Continued

Yesterday the FED held interest rates but shifted their speech towards a more dovish stance, pointing to possible interest rate cuts in the near future. Please click HERE to read more.

The Tiber Capital LLP team is proud to announce it has won the 2019 Pinnacle Awards in Chicago in the category of: 1. 5 Year Best Systematic CTA (less than 1 billion AUM). Please click HERE to read more

New issue CLO volume was $10.0bn in May, a substantial decrease from April’s multi-year record $15.7bn. Refi and reset volume came in at $2.0bn and $1.4bn, respectively, continuing at a much slower pace than in the same period 2018. The slowdown in new issues this month (and in the near term) was expected for a … Continued