Eq: Large Cap

(New York)

One corner of the bond market, or rather credit market, is having a tough time and it may be a negative sign for the rest of fixed income. CLOs, or collateralized loan obligations, which have been a star for several years, recent tumbled. In aggregate, CLOs dropped 5% in October, and those close to the market see more volatility to come. According to Citigroup “We think there’s more volatility coming … We recommend investors reduce risk and stay with cleaner portfolios and better managers”. CLOs are a key funder of the leveraged loan market, and weak demand there can flow through to boost borrowing costs to all corporates.


FINSUM: This is akin to a warning coming out of the high yield market, as what it reflects is worries about how leveraged companies might handle a downturn.

(New York)

Are you looking for a group of high-paying and stable income stocks? We’ve got a great list for you. All five in this group yield over 5% and all seem to have a stable outlook—which is not typical once dividends get to this level. Take a look at AT&T (5.3%), Schlumberger (6.1%,) AbbVie (5.4%), Simon Property Group (5.6%), and Iron Mountain (7.5%).


FINSUM: This is a highly diversified group of picks, which makes it quite interesting. AT&T seems like a good bet. Some runners-up include Macy’s (10% (!)) and Victoria’s Secret (7.1%).

(New York)

ESG has been on the rise. In its infancy, ESG was largely diminished to a niche sector, but increasingly large amounts of investor capital are flowing based on ESG considerations and clients are getting more and more focused on it. Now there is a new tool to score and rank mutual funds based on ESG factors. The tool is from As You Sow. It is still a work in progress, but is quite useful for getting an idea for where funds rank against one another.


FINSUM: This tool is still in development, but we could imagine that this could become quite useful as ESG is famously hard to grade.

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