(NY) Secondary: Traders Favor High-Quality Loans In Bid To Withstand Volatility
By Aaron Weinman – Refinitiv
PennantPark founder and Managing Partner Art Penn recently spoke with Aaron Weinman of Refinitiv for a piece on activity across the secondary market. Art provided insight into factors that continue to drive the market, such as Covid-19, prospects for a vaccine and actions from the Federal Reserve, and highlighted the secondary market opportunity that could present itself if there is a decline in loan prices. “There is a stressed and distressed investment community waiting in the wings and they have a lot of dry powder available to fill the gap if and when (a drop in loan prices) happens,” he said.