Penn Mutual Asset Management is committed to serving the institutional marketplace by offering fixed income investment ...

The unsold-company backlog is no longer a short-term timing issue; it is a structural feature of today's PE market. For allocators, the question is less whether capital will eventually be returned ...

This blog post is for informational use only. The views expressed are those of the author(s), and do not necessarily reflect the views of Penn Mutual Asset Management. This material is not intended to ...

This blog post is for informational use only. The views expressed are those of the author(s), and do not necessarily reflect the views of Penn Mutual Asset Management. This material is not intended to ...

The artificial intelligence (AI) buildout has triggered a massive wave of corporate bond issuance and other debt financing. Since 2024, more than $450 billion in AI-linked debt has been financed ...

Equity implied volatility has diverged sharply from realized volatility in early 2026. The S&P 500 Index’s 30-day implied volatility has climbed above 23%, nearly double the level observed at the ...

U.S. revolving consumer credit, primarily credit card debt, has climbed to a record level. As seen in today’s Chart of the Week, balances increased from approximately $950 billion in early 2021 to ...

At the start of the year, markets were pricing in multiple 25-basis-point interest rate cuts from the Federal Reserve (Fed). Core personal consumption expenditures (PCE)—the Fed’s preferred measure of ...

Equities shrugged off the move. For the week, the Nasdaq Composite Index rose 2.1%, the S&P 500 Index gained 1.2% and the Dow Jones Industrial Average added 0.3%, snapping a three-week losing streak, ...

Credit markets have remained broadly resilient. Investment-grade (IG) and high-yield (HY) credit spreads are still relatively tight, with IG credit spreads near 80 to 85 basis points (bps) and HY ...

If you turn on a financial news show, or read commentary on various markets, you will probably see a story about lofty valuations. Equity indices are at, or have recently set, record highs. Gold has ...