OFS - Fear In The Streets BDCs Melting Down TCG BDC Attractive
BDCs are currently in an oversold condition (UBS ETRACS Wells Fargo Business Development Company ETN (BDCS) relative strength ((RSI)) 24) melting down both today (12/20/218, BDCS -4%), and over the last 3 months (BDCS -18%). The fear is we are about to go into a recession with numerous middle market companies defaulting on their debts. This could happen. However, I would note the Fed adjusting its wording to clearly indicate a pause in interest rate increases, and/or some announcement which alluded to an end of the trade war, would go a long ways towards changing