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Credit

BNDX

BNDX provides exposure to foreign bonds, focusing on stable segments of the yield curve with a 5-10 year duration. It holds Japanese JGBs and French OATs, with Japan's market stable and France facing credit risks. Despite risks, BNDX's diversification and 4.79% yield offer strong long-term growth potential.

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November 05, 2024 | 11:45 pm

WAFD

WaFd's merger with Luther Burbank Corporation has improved its financial metrics, enhancing future earnings potential. However, risks remain due to high loan-to-deposit ratios and lower credit loss allowances. WaFd's preferred shares offer a 6.7% yield, trading at 73% of their call price.

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November 05, 2024 | 10:45 pm

NGL

NGL Energy Partners has not declared common distributions since 2020 and may not resume them until 2029 or later due to financial obligations, including a potential $600 million redemption of Class D preferred units in 2028 and a $300 million cash shortfall over the next three years.

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November 05, 2024 | 9:30 pm

RYAM

Rayonier Advanced Materials Inc. (NYSE:RYAM) reported strong Q3 2024 results, reiterating EBITDA guidance, increasing free cash flow guidance, and successfully refinancing its capital structure. The company generated $99 million in adjusted free cash flow, aiding a $37 million debt reduction.

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November 05, 2024 | 9:30 pm

CSWC

Capital Southwest, a well-managed BDC, is facing growth challenges due to increased competition, tighter spreads, and a rise in non-accrual loans. The company focuses on middle market and lower middle market portfolios.

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November 05, 2024 | 7:00 pm

DHC

Diversified Healthcare Trust (DHC) reported Q3-2024 results, leading to a decline in its stock price. Despite improvements in the SHOP segment, DHC faces challenges with high debt and poor cash flow visibility. The article suggests considering bonds over common shares.

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November 05, 2024 | 5:30 pm

BA

Boeing's stock initially gained after the end of a 53-day strike but failed to maintain those gains. However, Boeing's bonds are performing well, with spreads tightening.

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November 05, 2024 | 4:45 pm

MNBD

The October jobs report and downward revisions to employment numbers have raised concerns about a potential recession, which could be supportive of municipal bonds.

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November 05, 2024 | 3:45 pm

SPH

Suburban Propane, a partnership focused on propane distribution, maintains stable cash flows and revenues, ensuring solid distribution coverage. Despite high leverage, debt is well-managed with maturity in 2027.

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November 05, 2024 | 3:15 pm

BUCK

BUCK offers a strategy to generate additional income by focusing on convexity risk rather than credit risk, appealing to investors seeking alternatives to declining Treasury Bill yields.

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November 05, 2024 | 12:30 pm