The Fed Stepping into the High-Yield Market Was A 'Gamechanger': Hotchkis & Wiley's Kennedy

The video discusses rescue financing, focusing on market trends, investor challenges, and the role of covenants. It highlights the tension between risk and reward in the current market, using examples like Netflix and Carnival. The Federal Reserve's potential impact on market conditions is also explored, emphasizing the importance of structure and investor sentiment.

What role does the Fed play in the high yield market according to the discussion?

How are investors currently pricing risk in the high yield market?

What are the implications of having a large buyer in the market as discussed?