Why Credit Conditions Have Actually Eased Over Past Year | Oaktree’s Wayne Dahl on High-Yield Bonds, Leveraged Loans, Private Credit, and the Recession Yet To Arrive

Forward Guidance is sponsored by VanEck. Learn more about the VanEck Morningstar Wide MOAT ETF (MOAT) at https://vaneck.com/MOATFG. Follow VanEck on Twitter https://x.com/vaneck_us Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: (00:00) Introduction (01:36) The High-Yield Bond Market (10:08) VanEck Ad (10:48) Putting Money To Work When Credit Is Priced Optimistically (19:27) The Bank Loan Market (i.e. Leveraged Loans) (25:04) How Are Loan Borrowers Handling 500 Basis Points Of Increased Debt Costs? (28:59) Permissionless Ad (29:58) The Rise of Private Credit: Are We In The Golden Age? (41:34) Is Private Credit An Untested Asset Class In A Potential Recession? (46:53) What Is The Private Credit Money Used For? (52:57) Why Do Active Managers Manage To Outperform The Index In Credit, When In Equities So Many Underperform? (58:51) Loan Refinancings Are Occurring At A Record Pace (01:03:02) Structured Credit And Non-Agency RMBS (Residential Mortgage-Backed Securities) (01:04:40) Specialty Retail and Emerging Markets (01:07:02) Commercial Real Estate (CRE) __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.