OFSSG - BDC Market Weekly Review: Expensive BDCs Further Outpace The Sector

• We take a look at the action in BDCs through the third full week of October and highlight some of the key themes we are.
• October is shaping up to be a terrific month for BDCs - the best since April - as the sector has powered through the recent rise in Treasury yields.
• Higher-valuation BDCs have outpaced the sector as their valuations have increased this quarter by more than those of lower-valuation BDCs which may leave some investors overextended.
• We take a look at the PSEC profile of NAV returns and recent OFS baby bond issuance.

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