High Yield Investors May be Underestimating Tax Reform

Guggenheim Advises Caution in its High Yield & Bank Loan Outlook

2017 was a year marked by record institutional bank loan issuance ($504b, driven in part by high CLO demand) and robust high yield issuance ($276b, up 20% from '16). So, now what? 

On January 18, Guggenheim released its "High-Yield and Bank Loan Outlook." We've taken the liberty of summarizi…