Posts by THE LEAD
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The private credit yield advantage over BSL widens as single-B spreads shrink. Source: KBRA DLD Research, PitchBook LCD
Read More2026 Outlook: Pick of the Litter
With last Thursday’s Fed rate cut, the benchmark is down 200 bps from its peak in 2023. That’s the simple…
Read MoreEasing Down
Defaults for the overall leveraged loan market are at lowest point since 2023. Source: The Daily Shot, PitchBook/LCD, Morningstar LSTA US…
Read More2026 Outlook: Dress for Success
The surprise of 2025’s post-Liberation Day risk-on dynamic across markets has established a pattern we expect to continue well into…
Read MoreMiddle Market Deal Terms at a Glance – November 2025
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
Read More2026 Outlook: Setting the Table
A conversation this week between business TV anchors included the following half-joking observation: “Credit managers are saying, ‘Our 2026 outlook…
Read MorePrime Cut
A low probability just weeks ago, chances for a 25 bp cut now seem likely. Source: The Daily Shot
Read MoreLower for Longer
Direct lending defaults lead credit categories in low defaults, though headed higher. Source: KBRA DLD Default Research
Read MorePet Smart
News reached us last week of an unfortunate Shillington, PA man wounded when his shotgun went off. Police believe his…
Read MoreHigher for Longer
Larger LBO financings in direct lending are sporting increasingly higher leverage. Source: KBRA DLD Research, 3-month rolling averages
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