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Top companies in the private credit industry have pulled back over the past few days as investors reassessed their outlook on the Federal Reserve. Most have fallen into correction territory, dropping more than 10% from their recent highs.
Labor market data was soft enough to cast doubt on the timing and magnitude of future Fed hikes, making the upcoming CPI release a key tiebreaker for a September rate decision. Nonfarm payrolls decreased by 23k in July, far below expectations and a sharp departure from the strong job growth seen in recent months.
In the current macroeconomic landscape marked by higher-for-longer interest rates, investors looking to optimize their short-term capital allocations may want to consider collateralized loan obligations (CLOs) as a higher-yielding potential alternative to traditional cash proxies like money market funds.
Amplify Samsung SOFR ETF (NYSEARCA:SOFR - Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 52,305 shares, an increase of 24.4% from the November 30th total of 42,048 shares. Based on an average daily volume of 4,683
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