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CURRENT MARKET CONDITIONS
Spreads for commercial credit remains tight
The curve bear-flattened: the 2-year jumped to 4.30% while the 30-year eased from multi-decade highs as restored credibility calmed the long end. July data set the trap, with core PCE stuck at 3.3% and real spending stalled. Credit still is not pricing the rate risk the Fed just validated. Stay senior, size to sustained-high base rates, and treat 16 September as a live hike.
TELLARO WEEKLY VIEW
The Publications
Weekly Market Monitor
A dated read on rates, spreads, leverage, and default activity, anchored by the Middle Market Credit Conditions Index.
WEEKLY
Investment Committee Insights
What the month's transactions revealed, written from the desk that underwrites them.
MONTHLY
CIO Perspective
The firm's view on the credit cycle and where capital is being rewarded across the lower middle market.
QUARTERLY
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