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ECC - CEF Analysis: Floating Rate Review | July 2019
Eagle Point Credit Company Inc.
Floating rate has had a lot of contentious debates around the financial world in the last year. Twelve months ago, it was the hottest asset class in fixed income through the midpoint of the year. Investors flocked to the space to combat what appeared to be the relentless rise of short-term interest rates.
Then the fourth quarter started.
Rate expectations switched dramatically though not right away. The Fed still moved in December which is widely regarded as a policy error - the stuff recessions are made out. But lucky for us, Powell recognized the error