Octus Radio
Insights with Jeremy Burton of PineBridge Investments
Jul 15, 2024
Jeremy Burton, a portfolio manager on the leveraged finance team at PineBridge Investments, shares his expertise on the high-yield and leveraged loan markets. They discuss how the upcoming election may affect new-money issuance and the rise of liability management exercises. Burton also explores the nuances between high-yield bonds and leveraged loans, shedding light on current investor appetites. Additionally, he delves into the impacts of recent bankruptcy cases and the ongoing developments in corporate restructuring.
31:27
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Quick takeaways
- The strong sentiment in high-yield markets signals a growing appetite for new issues amid rising yields and post-Independence Day expectations.
- The rise of liability management exercises reflects a shift in restructuring strategies, prompting investors to adapt to evolving corporate tactics.
Deep dives
Market Sentiment and Activity
The current sentiment in the leveraged finance market remains strong, particularly in the high yield segment. There is a growing appetite for new issues as market participants seek opportunities beyond re-pricing and refinancing activities. As earnings season approaches, expectations are that more new issuance will emerge, which could invigorate the market after a quiet stretch around the Independence Day holiday. Overall, the need for increased market activity remains pivotal for participants looking to capitalize on promising credit opportunities.
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