Saturday, August 15, 2020

Howard Marks' Latest Memo Reviews the Market's Amazing Recovery and Asks if the Fed Can Keep it Going? (Ans: Maybe)

The full memo is here, but a good summary at BI. Also annualized QoQ GDP% measure is complicated and meaningless.


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Private Credit Teeters on the Edge

In our last post we wrote about the cracks in private credit that began to show in February. A large swath of semi-liquid, non-traded BDCs,...