NEAM Insights

Background There are times when investors need to look in unfamiliar and perhaps riskier places to see which way the winds of fortune might be shifting. For example, what can conditions in leveraged markets tell us about high grade corporate bonds? Leveraged capital structures are more sensitive and vulnerable to changes in the overall financial market and as conditions change, these securities often signal danger lying ahead for investment grade bonds. Read More

Cable television operators’ main source of revenue is under attack from several disruptive factors, including new providers of program content, more convenient and faster means to deliver that content as well as mobile devices that can deliver high quality video. These disruptors have had a double-edged effect on both the profitability and credit quality of bonds issued by the larger cable players. Below we examine the implications of these new technologies. Read More