Oxford Square Capital: We Are Not Impressed By The Bonds This Time

2026-01-29 02:51:55 ET

In 2025, we consistently invested in BDC baby bonds and locked yields above 8% on many decent names in the sector. The logic at the time was that bonds were undervalued and common stock valuations were extremely overvalued. 1 year later, most of the baby bonds trade at very low yields, or even worse, negative in some cases, and opportunities are rare. On the contrary, many of the common stocks are grounded and trade at historically large discounts....

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