Yields may have peaked in 2023 for municipal bonds, with defaults this year most likely to happen in senior living and skilled nursing, according to the results of a recent survey published by Hilltop Securities.
Long-term care-related defaults had been decreasing as of May.
Hilltop surveyed 125 market participants. Half of the respondents to the Hilltop Securities High Yield Impact Survey were investors; bankers and advisers accounted for 16%; sell side intermediaries accounted for 9%; and bond counsel, insurers and rating analysts contributed 16% of the responses. Other market participants (including bond evaluators and researchers) contributed the remaining 9%.
McNight’s Senior Living
by Kathleen Steele Gaivin
JANUARY 9, 2024