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Floating Rate Sector Update | Rates Are Rising Which Should Sign A Light On The Sector

Floating Rate Sector Update | Rates Are Rising Which Should Sign A Light On The Sector

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Yield Hunting
Mar 26, 2021
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Floating Rate Sector Update | Rates Are Rising Which Should Sign A Light On The Sector
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Summary

  • Floating rate ("loan") securities have been out-of-favor for more than a year as investors saw interest rates plummet.

  • The loan market looks very compelling relative to high yield fixed coupon bonds.  The avg price is below par vs. a premium to par for bonds.

  • In addition, we capture a double-discount with loan CEFs as the funds are cheap relative t…

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