Wall Street Weighs in on the Recent Tumult in the Credit MarketBy
The fallout in credit markets is continuing to grab headlines this week with Lucidus Capital Partners, a high-yield credit fund, announcing that it has liquidated its entire portfolio and plans to return the $900 million it has under management to investors next month.
Last week two other creditfunds, a $788 million mutual fund run by Third Avenue Management and a $400 million hedge fund managed by Stone Lion Capital Partners, suspended redemptions in the face of heavy outflows. The SPDR Barclays High Yield Bond ETF, a proxy for the junk-bond market, fell the most in four years on Friday…
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