Takeaways by Bloomberg AI
It was a panicked message from a colleague that woke fund manager Ivelina Green at 5 a.m. on Thursday morning in New York: “Total meltdown.”
The average risk premium for US high-yield debt had climbed to a 17-month high and primary markets notched the year’s biggest spate of pulled deals. In London, Arini Capital Management, one of the biggest hedge fund investors in the high-yield market, just told investors it had lost 6.9% in the first half of October.