😬What to Make of the Credit Cycle. Part 27. (Short Private-now-Public BDCs).😬

Oh boy.

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The S&P 500 has been on a wild ride. One month ago it was almost exactly where it is today. If you were too busy prepping oil and gas-related chapter 11 papers or chasing Forever21, you might not have noticed the nausea-inducing dip the S&P took to 2,744 as recently as June 3. Yet, the S&P rose 4.41% this week alone to wipe that dip away.

On the other hand, there’s the 10-Year Treasury:

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