Garman Research is dedicated to independent research on high-yield credit markets. We publish Leverage World, the premier journal of the high-yield markets.

 

Leverage World is published weekly (Friday). It contains articles on the "Big Picture" in the high-yield markets, as well as the following regular features:

 

• Security Selection -- an analysis of senior vs. subordinated spreads, debt vs. equity (outperformance), OAS, risk weightings

• Sector Allocation -- tracking high yield relative value by industry

• Market timing -- default rate forecasts and charts; macro-tracker analysis relating economic variables to risk premiums/spreads

The periodical is delivered in PDF format. A smaller version which includes only the Big Picture articles is also available. There are approximately 48 issues a year.