Panic in high-yield hits BDCs

Dec 11 2015, 15:40 ET | By: Stephen Alpher, SA News Editor 

Treasury yields are plunging, but high-yield is headed the other way again as investors mull a big selloff in the major averages and oil's plunge to below $36 per barrel.

The pain is widespread, but a panic in credit is particularly painful for BDCs. Hitting the tape a few minutes ago, Jeff Gundlach says "there's never just one cockroach" when credit melts down.

Prospect Capital (PSEC -5.5%), Ares Capital (ARCC -5.7%), FS Investment (FSIC -3.6%), BlackRock Capital (BKCC -3.8%), Apollo Investment (AINV -3.8%), PennantPark (PNNT -4.1%), Medley Capital (MCC -4.1%), TCP Capital (TCPC-2.5%), Gladstone Capital (GLAD -6.4%).

ETFs: BDCL, BDCS, BIZD, FGB