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We expect the formation of collateralized loan obligations to remain a positive technical driver for loan demand through 2019.
We believe that as the Federal Reserve raises rates, future loans will have higher coupons, which the market should anticipate.
We have a positive outlook on corporate fundamentals. This, coupled with the low volume of loans maturing through 2020 and high rates of refinancing, should help keep default rates below historic averages.
At the end of 2018, loans in our portfolios averaged historically robust interest coverage ratios.
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Market conditions are extremely fluid and change frequently.
This blog post is provided for informational purposes only and should not be construed as investment advice. Any opinions or forecasts contained herein reflect the
subjective judgments and assumptions of the authors only and do not necessarily reflect the views of Loomis, Sayles & Company, L.P. Information, including
that obtained from outside sources, is believed to be correct, but Loomis Sayles cannot guarantee its accuracy. This material cannot be copied, reproduced or
redistributed without authorization. This information is subject to change at any time without notice.
