PPM America, Inc.

Jackson and PPM were thrilled to host 6-8th grade students through Communities In Schools (CIS) of Chicago’s Inspiring Futures program. Students received an office tour before engaging with volunteers in a motivating life-mapping activity and networking lunch. Young people cannot aspire for more if they are never exposed to what “more” looks like. We are proud to support CIS’s mission to surround students with a community of support, empowering them to succeed in life. Learn more about our commitment to the community, https://bit.ly/3cpiGp4 #ppmamerica #philanthropy #chicago

Join our team! We offer reimbursement for adoption expenses, along with four weeks for paid parental leave. Work for a company that cares about all areas of your life. https://bit.ly/3ih9WDw #ppmamerica #benefits #hiring #chicago #ppmbenefits

Join Kent Born, Head of Commercial Real Estate, and the GARP Chicago Chapter on Nov. 20 for an insightful discussion on current macro conditions. Register Now: https://bit.ly/4evQsGa

For commercial real estate investors, the onset of the Fed easing cycle should be a boon from a loan refinance and valuation perspective. A lowering in long-term interest rates should result in a healthier financing environment, increasing origination loans and easing refinancing burdens. Fundamentally, we see opportunity for Core Plus lending in the four major property types outside of office. In our view, now could be a great time to invest as quality opportunities may dwindle as interest rates decrease, negative headlines become less frequent, and more debt capital comes back to the sector. https://bit.ly/3UwUirt Read more from our commercial real estate team in our recent Quarterly Insights, Kent Born, Julian Foster, and Tim M.

Visualizing China’s Economic Issues. https://bit.ly/3C4oJ1W

We are hiring! If you are interested in working for a company focused on client solutions and committed to our community, search careers at https://bit.ly/3znWGnE #ppmamerica #hiring #chicago

The US high yield market saw robust 3rd quarter returns, fueled by a concentrated set of distressed issuers. Credit conditions trended positively – there were more upgrades than downgrades and both the default rate and distress ratio declined. We saw opportunities to swap into sectors with recurring revenue and improving credit profiles, reduce overall exposure in Energy and shift the higher-quality portion of our portfolios from BBs into BBBs. https://bit.ly/3UwUirt Read more from our high yield portfolio management team in our recent Quarterly Insights, Adam Spielman, John Broz, and Karl Petrovich. 

The Fed’s easing cycle has arrived and, with it, lower Treasury yields and notable total returns for US investment grade. But spreads were already historically tight when the cutting cycle began. Our focus is on maintaining an up-in-quality bias within client portfolios while taking idiosyncratic investment opportunities amid supportive technicals and fundamentals. If factors such as the Fed, US election or geopolitics create volatility, we expect to be opportunistic. https://bit.ly/3UwUirt Read more from our investment grade portfolio management team in our recent Quarterly Insights, Mark Redfearn, Josh Settle, Calvin Walker, Jonathon Nelson, and Mike Kennedy

The conflict in the Middle East, the ongoing war in Ukraine, the outcome of the US Presidential election and the progression of the Fed’s easing cycle – these are some of the events that present risks but also opportunities for investors. In this newsletter, we try to determine how these events are likely to affect investment outcomes for our clients. https://bit.ly/3UwUirt Deputy CIO Ogechi Nwachukwu reviews Q3 2024 and provide his outlook on the markets in our latest Letter from the CIO.

China has announced a series of monetary and fiscal stimulus measures to address its weaker economy. So far, we feel the tangible measures they have announced have focused on monetary/credit conditions, which benefit financial assets but are unlikely to affect necessary household deleveraging. Read more in our latest infographic. https://bit.ly/3C4oJ1W