We have noticed an increase in bank balance sheet financing of late. Typically, bank loans are indexed to a variable rate (e.g. LIBOR) plus a credit spread. In offering the financing, the banks may require that the borrower enter into a pay-fixed interest rate swap. There are a lot of misconceptions and negativity associated with […]
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Last Week: Interest rates fell, and equities rose amid signs that most major economies in the world likely hit bottom in April. The yield on the US 10-year note ticked up 3 basis points from a week ago to 0.73% – near the midpoint of its 13-basis-point range – while 1-month LIBOR fell very slightly […]
Last Week: Interest rates were mixed, and equities were sharply lower on the week amid concerns over an uptick in COVID-19 hospitalizations in several states around the country. The yield on the benchmark US 10-year Treasury note declined a whopping 22 basis points to 0.70%, while 1-month LIBOR rose two basis points to 0.20% after […]