Investing in Distressed Businesses

Market Watch: Week of August 18, 2026 – August 24, 2026 DailyDAC’s Sentiment Score: 3.6/10 Not much happened in distressed credit this week. But everything happened to the price of borrowing money. The 30-year Treasury yield (essentially the government’s cost to borrow money for three decades, and the benchmark that sets the floor for almost every long-term loan in the country) hit 5.34% on Tuesday, its highest level since 2007. Treasury tried to calm things down on Wednesday by doubling its buyback program– essentially stepping into the market to buy […]

Market Watch: Week of August 11, 2026 – August 17, 2026 DailyDAC’s Sentiment Score: 4.3/10 On the surface, this was a slow week in the bankruptcy courts. But beneath the surface, the underlying economic signals were anything but calm. The big-picture economic data came in roughly where investors expected. The Consumer Price Index (CPI) (the main measure of what everyday goods and services cost) rose just 0.1% in July, and the year-over-year rate slipped to 3.4%. Wholesale prices (the Producer Price Index, or PPI) were flat. Weekly unemployment filings stayed […]

Market Watch: Week of August 4, 2026 – August 10, 2026 DailyDAC’s Sentiment Score: 4.2/10 [A note on the scale: a score of ten indicates that credit markets are fully open and few borrowers are in distress. A score of one indicates that market functioning has effectively ceased. A score of 4.2 indicates a market that continues to function, but not for all borrowers who require access to it.] Headline indices performed well. The ICE BofA high-yield spread tightened to 271 basis points from 285 at end-July, reflecting greater investor confidence. Retail investors contributed $2.76 billion to high-yield bond funds in the week ended August 5, the largest inflow since mid-April, while the payment default […]

Week of July 28, 2026 – August 3, 2026 DailyDAC’s Sentiment Score: 4.0/10 The bond market and the bankruptcy courts told two different stories this week. Let’s start with the bond market: “high yield spreads” are the extra interest that risky (“high yield” or “junk”) borrowers pay compared to the safest possible borrower, the U.S. government. That extra amount is measured in “basis points”– one basis point is 1/100th of one percent so 100 basis points equals 1%. As of July 30, that spread closed at 284 basis points (2.84%), […]

Read this week’s DailyDAC Market Summary for insight into current market conditions.

Read this week’s DailyDAC Market Summary for insight into current market conditions.

Read this week’s DailyDAC Market Summary for insight into current market conditions.

Read this week’s DailyDAC Market Summary for insight into current market conditions.

Read this week’s DailyDAC Market Summary for insight into current market conditions.

Read this week’s DailyDAC Market Summary for insight into current market conditions.