BlueBay Insights
Liquidity in leveraged finance markets – Tim Leary
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Liquidity in leveraged finance markets – Tim Leary
Sep 28, 2020
BlueBay Asset Management

Tim Leary joins us on the BlueBay Insights podcast to update on high yield and leveraged finance markets, with a special focus on the subject of liquidity.

We asked Tim:

  1. How does the global high-yield universe breakdown in terms of the US and European split? Are there any notable differences between the two regions that investors should be aware of?
  2. What percentage of the US HY market trades enough to be considered liquid?
  3. In terms of active versus passive investing – how significant is the ETF portion of the universe?
  4. As an active manager, how do you define liquidity?
  5. Did you learn anything from the coronavirus crisis period about best-practice liquidity management or anything that particularly surprised you as a seasoned investor?
  6. Could you give us a quick liquidity outlook for the asset class and some positioning highlights as we approach the final quarter of the year?