Today’s Talk Your Book is brought to you by Janus Henderson Investors:
On today’s show, we discuss:
- Why AAA CLOs have never experienced a default in the history of the asset class, through 2008, 2020, and 2022
- How the waterfall structure and overcollateralization in CLOs provide a built-in layer of credit protection
- Why JAAA fits in the ultra-short category and how it competes with money market funds and other short-duration fixed income
- The main risk scenario for AAA CLOs, spread widening and liquidity crunches, and what happened during March 2020
- Exploring the broader securitized market through JSI, including home equity loans, music royalties, and commercial real estate debt
Listen here:
https://podcasts.thecompoundnews.com/show/animalspirits/
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