Opinion

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Finance

Credit Markets Are Calm. The Math Underneath Isn't

Direct lending defaults are projected to hit 8%, nearly triple the historical average. Private credit just posted its first-ever quarterly outflow. Credit markets are pointing at the buffers and calling it fine. The buffers aren't the whole story.

By Sadie Park · 3 min read

Finance

BlackRock Gated Its Retail Investors Before They Could Leave

BlackRock gated $1.2 billion in withdrawal requests from a fund any investor with $70,000 in income could access. The numbers on HLEND's gate are not alarming because of their size. They are alarming because of what they reveal about who was sold the fund.

By Marcus Cole · 3 min read