Kimball comments, “the US credit markets look as a whole to be more or less reasonably priced if not a little rich in higher quality.”
He adds, “There’s still some value particularly in longer-dated, lower quality investment-grade bonds but I would not characterize the market as cheap overall.”
Scott Kimball, CFA, Chief Investment Officer of Loop Capital Asset Management, was recently featured in Bloomberg in a piece on the corporate bond market.
Kimball comments, “I would not be running to buy all the credits I can get my hands on where spreads have rallied.” He goes on to add, “there’s too much banking on the Fed in particular slowing, or changing policy, without a tremendously strong signal that they are ready to do so.”
Bloomberg subscribers can read the full article here.
Scott Kimball, Managing Director at Loop Capital Asset Management, says the five and year treasury yields just briefly inverted for a moment. I think that the market may have been a bit off guard by how hawkish the Fed commentary was, with seven total hikes for 2022, he adds. He said the Fed did leave themselves a little bit of flexibility to address things in both directions. He sees the 10% sell-off in corporate bonds as an entry point. He says corporate balance sheets look great. Tune in for the full discussion.
CHICAGO, January 31, 2022 – Loop Capital, LLC (Loop Capital) today announced its acquisition of Taplin, Canida & Habacht, LLC (TCH), formerly part of BMO Asset Management Corp., effective January 28, 2022. The addition of the TCH team to the Loop Capital platform expands the firm’s asset management capabilities, which presently include infrastructure asset management through JLC Infrastructure. The terms of the deal are undisclosed. The newly rebranded asset management platform at Loop Capital will be known as Loop Capital Asset Management.
Founded in 1985, TCH is a Miami-based investment advisory firm, which specializes in fixed income account management, serving a broad array of institutional clients globally. Its team of professionals provides portfolio management for both public and private enterprises. The firm has $6.2 billion in assets under management as of December 31, 2021.
“Loop Capital is proud to accelerate our growth as a firm through the acquisition of the well-respected and talented TCH team. We are incredibly excited for what this expansion means to the strength of our future as a firm and our clients alike,” says Kourtney Gibson, President of Loop Capital.
Of the deal, Loop Capital Asset Management new Co-Head of Fixed Income and Head of Investments, Scott Kimball has this to say: “This transaction preserves the TCH investment culture and returns our firm to its roots as a boutique asset manager under the umbrella of a highly respected, minority-led firm with whom we share the same core values. Both TCH and Loop Capital have a history of providing our clients with superior performance and exemplary service while promoting a diverse and inclusive environment for our employees. We could not be more excited to take our legacy forward with Loop Capital Asset Management.”
The acquisition provides Loop Capital with a foundation to broaden its service offerings and builds upon the success of the firm’s steady and growing asset management business and capabilities.
“As we look to the future of this business, we believe this combination is one of the best possible opportunities for our team. We could not be more excited about joining Loop Capital Asset Management and what it means for our clients, our culture and our team,” says Adam Phillips, Managing Director and new Co-Head of Fixed Income at Loop Capital Asset Management.
Jim Reynolds, Chairman and CEO of Loop Capital says, “Loop Capital and TCH share a decades-long working relationship, and I’m pleased that it has led to this moment. Our team looks forward to the value this new extension of services provides to our clients.”
About Loop Capital Markets
Loop Capital is a full-service investment bank, brokerage and advisory firm that provides creative capital solutions for corporate, governmental and institutional entities across the globe. Loop Capital’s reputation for integrity and service – coupled with the firm’s track record of success – has allowed the firm to serve an expanding number of clients from coast-to-coast and globally. The firm continues to grow because clients continue to ask them to do more for them. The firm’s uncompromising commitment to excellence means that clients get superior, focused service across the entire platform.
Jorian Seay-Saunders | Jorian.Seay@loopcapital.com