Featured Top Idea
CRS – Carpenter Technology Corporation
Action: Buy 2030 7.625% Bonds CUSIP: 144285AM5 (5.816% YTW, 4.759% iYTW)...
Read MoreThe Latest from Weeklies News
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May 28, 2025
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May 21, 2025
Featured Top Idea
SWKS – Skyworks Solutions, Inc.Action: Buy 2031 3.000% Bonds, CUSIP: 83088MAL6 (6.455% YTW, 4.891% iYTW)...
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May 14, 2025
Featured Top Idea
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CIEN – Ciena Corporation
Action: Buy 2030 4.000% Bonds, CUSIP: 171779AL5 (5.820% YTW, 4.990% iYTW)... -
May 7, 2025
Featured Top Idea
NRG – NRG Energy IncAction: Buy 2028 5.750% Bonds CUSIP: 629377CE0 (5.849% YTW, 4.322% iYTW)
Buy 2029 3.375% Bonds CUSIP: 629377CQ3 (5.711% YTW, 4.309% iYTW)
Buy 2029 5.250% Bonds CUSIP: 629377CH3 (5.856%YTW, 4.309% iYTW)
Buy 2031 3.625% Bonds CUSIP: 629377CR1 (5.886% YTW, 4.309% iYTW)...
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May 2, 2025
MUR – Base Case iCDS 191bps
Negative Case iCDS 286bps, 2029 7.050% Bond YTW of 7.332%, iYTW of 5.898%
Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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April 30, 2025
Featured Top Idea
F – Ford Motor CompanyAction: Buy 2028 6.625% Bonds CUSIP: 345370BY5 (6.267% YTW, 5.019% iYTW)
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Buy 2030 9.625% Bonds CUSIP: 345370CX6 (6.788% YTW, 5.134% iYTW)
Buy 2031 7.450% Bonds CUSIP: 345370CA6 (6.814% YTW, 5.311% iYTW)... -
April 23, 2025
Featured Top Idea
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UBER – Uber Technologies, Inc.
Action: Close Trade: 2028 6.250% Bonds, CUSIP: 90353TAG5
2029 4.500% Bonds, CUSIP: 90353TAK6
2030 4.300% Bonds, CUSIP: 90353TAN0... -
April 21, 2025
SWKS – Base Case iCDS 74bps,
Negative Case iCDS 103bps, 2031 3.000% Bond YTW of 6.455%, iYTW of 4.891%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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April 21, 2025
F – Base Case iCDS 116bps,
Negative Case iCDS 223bps, 2031 7.450% Bond YTW of 6.814%, iYTW of 5.311%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa2) Rating from Valens,
Low Refinancing Need...
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April 16, 2025
Featured Top Idea
HLX – Helix Energy Solutions GroupAction: Buy 2029 9.750% Bond CUSIP: 42330PAL1 (7.967% YTW, 5.892% iYTW) Aggregate Credit Market and Credit Fundamental Review
Read More
Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently.... -
April 2, 2025
Featured Top Idea
BA – The Boeing CompanyAction: Close Trade: 2028 3.250% Bonds, CUSIP: 097023DB8
2028 3.250% Bonds, CUSIP: 097023BX2
2028 3.450% Bonds, CUSIP: 097023CA1
2029 3.200% Bonds, CUSIP: 097023CD5
2029 6.298% Bonds, CUSIP: 097023DQ5
2030 2.950% Bonds, CUSIP: 097023CN3
2030 2.950% Bonds, CUSIP: 097023CN3
2031 6.388% Bonds, CUSIP: 097023DK8
Aggregate Credit Market and Credit Fundamental Review
Read More
Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently.... -
March 26, 2025 -
March 19, 2025
Featured Top Idea
PBF – PBF Energy CorporationAction: Close Trade: 2028 6.000% Bonds CUSIP: 69318FAJ7 (7.161% YTW, 6.947% iYTW) Aggregate Credit Market and Credit Fundamental Review
Read More
Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently.... -
March 12, 2025 -
February 26, 2025
Featured Top Idea
NRG – NRG Energy, Inc.Action: Buy 2028 5.750% Bonds CUSIP: 629377CE0 (5.785% YTW, 4.531% iYTW)
Buy 2029 3.375% Bonds CUSIP: 629377CQ3 (5.825% YTW, 4.679% iYTW)
Buy 2029 5.250% Bonds CUSIP: 629377CH3 (6.016% YTW, 4.679% iYTW)
Buy 2031 3.625% Bonds CUSIP: 629377CR1 (6.135% YTW, 4.679% iYTW)Aggregate Credit Market and Credit Fundamental Review
Read More
Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently.... -
February 26, 2025
Featured Top Idea
NRG – NRG Energy, Inc.Action: Buy 2028 5.750% Bonds CUSIP: 629377CE0 (5.785% YTW, 4.531% iYTW)
Buy 2029 3.375% Bonds CUSIP: 629377CQ3 (5.825% YTW, 4.679% iYTW)
Buy 2029 5.250% Bonds CUSIP: 629377CH3 (6.016% YTW, 4.679% iYTW)
Buy 2031 3.625% Bonds CUSIP: 629377CR1 (6.135% YTW, 4.679% iYTW)Aggregate Credit Market and Credit Fundamental Review
Read More
Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently.... -
February 19, 2025
Featured Top Idea
Read More
HLX – Helix Energy Solutions Group
Action: Buy 2029 9.750% Bond CUSIP: 42330PAL1 (7.348% YTW, 6.527% iYTW)... -
February 5, 2025
Featured Top Idea
CIEN – Ciena CorporationAction: Buy 2030 4.000% Bonds, CUSIP: 171779AL5 (5.713% YTW, 5.221% iYTW) Aggregate Credit Market and Credit Fundamental Review
Read More
Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently.... -
February 5, 2025
Featured Top Idea
CIEN – Ciena CorporationAction: Buy 2030 4.000% Bonds, CUSIP: 171779AL5 (5.713% YTW, 5.221% iYTW) Aggregate Credit Market and Credit Fundamental Review
Read More
Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently....
