Added to YB: 2025-02-05
Pitch date: 2025-02-04
PCMM [bearish]
Bondbloxx ETF Trust - Bondbloxx Private Credit CLO ETF
-0.79%
current return
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Show full summary:
Private Credit CLOs - Short
PCMM short: Private credit CLOs rife with PIK loans, mirroring pre-GFC subprime. CCLFX fund shows PIK loans up from 0% in 2020 to 11.54% in 2024. Opportunity to buy CDS on subordinated tranches rated investment grade. ANTR 2018-3A CLO: 77.21% Caa3 rated loans. Peak credit environment, high risk of default.
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