FORM CRS
VISIT SIERRA MUTUAL FUNDS
ACCESS YOUR ACCOUNT
Search
Close this search box.
VISIT SIERRA MUTUAL FUNDS
ACCESS YOUR ACCOUNT
Search
Close this search box.
VISIT SIERRA MUTUAL FUNDS
ACCESS YOUR ACCOUNT
Search
Close this search box.
Sierra Investment Management Logo

St. Aubin in the Wall Street Journal Talks Risky Borrowers & Rising Loan Costs

Excluding a 2020 spike, the default rate for the past 12 months is the highest since 2014.

The strains come at a time when leveraged-loan funds have put up outsize performances. Investors had feared that rising rates would hurt risky borrowers, particularly if they spark a recession. Instead, a strong economy has helped issuers withstand rising interest costs while bonds with low fixed rates have tumbled, amplifying the advantage of floating-rate debt.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 9/28/2023, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

0274-SI00XLAP 09282023

You are now leaving Sierra Investment Management and entering the Charles Schwab client portal.

You are now leaving the Sierra Investment Management, Inc. website and entering the Sierra Mutual Funds website.

The Sierra Mutual Funds are managed by Ocean Park Asset Management, LLC, an affiliate of Sierra Investment Management, Inc.