◀ The Principal Blog

High Yield – Don’t Believe the Hype



Some in the investing public have tried to explain the recent sell-off in high yield with charts similar to those below. What they’re trying to portray is that the recent growth in fixed income mutual fund assets has exploded and could potentially overwhelm the dealers’ balance sheets and thus…

Read more

Vultures, a Ship, and RUFO: The Weird Tale of Argentina’s Latest Default



Last week, Argentina fell in default…again. Argentina last failed to make payments on its sovereign debt obligations in 2001, to the tune of $80 billion. Market reaction outside of Argentina to the most recent stumble was generally muted.  The U.S. stock market was down last week, but mostly…

Read more

Recent