Yale's Swensen: Extraordinary Opportunities in Corporate Debt

In an interview with Bloomberg, Yale University's investment chief David Swensen opined that the credit world provides "some really extraordinary opportunities." Swensen believes that bank loans, investment-grade bonds and less-than-investment grade bonds" are "priced at really extraordinarily cheap levels." In the current environment, distressed corporate securities could produce equity-like returns, according to the head of the university's $17 billion endowment.

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Scott Middleton