Palmer Square Capital Management LLC

Today, Palmer Square celebrates the 10 Year Anniversary of its groundbreaking CLO indices. On May 29, 2015, Palmer Square introduced the first CLO benchmarks distributed globally on a daily basis: the Palmer Square CLO Senior Debt Index (CLOSE) and the Palmer Square CLO Debt Index (CLODI). "We launched the CLO indices so investors had access to a daily performance benchmark focused on a rapidly expanding asset class. In 2024, we added to our US-focused suite of indices by launching European CLO indices. As a result of investor demand and heavy usage of our indices, Palmer Square recently introduced an ETF in the U.S. and will soon launch a similar product in Europe allowing investors to directly invest and access the compelling return characteristics shown by these indices over an extended period of time.” Christopher Long Read the press release: https://lnkd.in/gvezFpbU #PalmerSquare #CLO #StructuredCredit #FixedIncome #InvestmentInnovation #Anniversary #ETF #PSQA #CreditMarkets

From Tariffs to Taxes: Markets React to Fiscal Overload With foreign buyers pulling back and debt issuance rising, duration buyers are facing real headwinds. The recent budget proposal includes sweeping tax cuts—offset by hoped-for future savings—while continuing to run deficits in the 5–6% range. The result? A sharp selloff in long-duration Treasuries and rising pressure on the 30-year yield, now back at its highs for the year. Palmer Square Capital Management is watching these dynamics closely—and actively positioning portfolios to manage rate risk in a shifting macro environment. #FixedIncome #FiscalPolicy #InterestRates #TreasuryYields #CreditMarkets #PalmerSquareCapitalManagement

Trade Headline Ping Pong: De-escalation in Focus On the trade/tariff front, it appears we have entered the stage of multiple bilateral trade deal announcements, starting with the United Kingdom last week and more deals soon. Yet, it’s the de-escalation with China that is the most important—and most market-moving—development. With Q1 earnings largely behind us and positive trade momentum building, it's difficult to see a catalyst that can drive the markets lower. At Palmer Square Capital Management, we’re positioning portfolios to navigate policy swings while staying focused on long-term fundamentals. #Markets #TradePolicy #Tariffs #China #Equities #Investing #PalmerSquareCapitalManagement #MacroOutlook

“You can’t get too excited about a lot of this stuff until pen is turned into law.” Palmer Square Capital Management's Portfolio Manager Jon Brager told The Wall Street Journal about the ongoing market rally amid the 90-day tariff pause between the United States and China. Check out the full article by Krystal Hur or more insights on the recent market movement: https://lnkd.in/gb9PQdMb #PalmerSquareCapitalManagement #MarketInsights #WSJ #Trade Palmer Square is not a manager of artificial intelligence or crypto-based strategies.

Join us on May 19 at 2:00 pm CST for a deep dive into Palmer Square Capital BDC on the heels of our Q1 2025 earnings release. Our very own Chris Long and Matt Bloomfield will address recent market developments, key considerations for PSBD and near-term opportunity for investors seeking attractive yield and total return. We hope to see you there! Register here: https://lnkd.in/gemgb9mj

Growth Slowdown — and the $300B Bright Spot Regardless of what happens with tariffs, the growth slowdown is inevitable. Uncertainty around trade policy is dragging down corporate and consumer confidence, delaying large purchases and investment decisions. But here’s the mitigant: the AI Capex Boom. Over $300 billion in private sector investment is driving a data center buildout frenzy that stretches into 2030. The Mag7 see AI not as an option, but as an existential necessity. In a shifting environment, recognizing where growth persists is just as important as spotting where it’s slowing. #Markets #AI #Investing #EconomicTrends #Mag7 #PalmerSquareCapitalManagement Palmer Square is not a manager of artificial intelligence-based strategies.

Empty Shelves and Transportation Risks Last week's high-frequency data on freight volumes and port loadings shows a sharp drop in China-to-U.S. trade. By mid-May, major retailers could face shortages — and the media attention around empty shelves may put additional pressure on the White House to act. Beyond headlines, this disruption could lead to earnings pressures and even layoffs across transportation and logistics sectors. We’re closely watching how these dynamics impact both markets and policy responses. Stay tuned. #Markets #Investing #SupplyChain #EconomicData #PalmerSquareCapitalManagement This material represents an assessment of the market environment at a specific point in time, is subject to change without notice, and should not be relied upon by the reader as research or investment advice. With regard to sources of information, certain of the economic and market information contained herein has been obtained from published sources and/or prepared by third parties. While such sources are believed to be reliable, Palmer Square or their employees or representatives do not assume any responsibility for the accuracy of such information. The views expressed, processes described, and illustrations and examples provided herein are for informational purposes only. There is no guarantee that any views and opinions expressed herein will come to pass.

De-Dollarization in Motion: Signals from Gold, Bitcoin, Treasuries & More The past two weeks have revealed a synchronized market reaction supporting the theme of de-dollarization: ● Dollar down ● Gold and Bitcoin up ● Treasury yields rising ● Large cap equities falling Even with periods of reprieve, the selling of dollar assets remains the key macro trend we’re watching. While Fed Chair Powell’s position appears secure—despite political noise—these headlines do little to calm market sentiment and may even amplify the de-dollarization momentum. At Palmer Square, we remain focused on strategies that can navigate global shifts in capital flows, particularly those away from traditional U.S. dollar assets. Palmer Square is not an issuer of funds that invest in cryptocurrencies. #DeDollarization #Gold #Bitcoin #TreasuryYields #FedPolicy #MarketTrends #CreditMarkets #PalmerSquareCapitalManagement #MarketInsights

“You need to get to a conclusion, here, sooner or later.” That’s according to Palmer Square Capital Management's Portfolio Manager Jon Brager who spoke with MarketWatch about the uncertainty present in the bond market, noting that “We started off the year red-hot” regarding issuance of new CLOs. Read the full article by Joy Wiltermuth for more insights on how bond market participants are responding to President Trump’s trade policy and the recent pullback in dealmaking in the bond market: https://lnkd.in/eSPG_3Hz #PalmerSquareCapitalManagement #TreasuryYields #CreditMarkets #CLO #MarketWatch #MarketInsights

Credit Outperforms as Equities Reprice Growth Markets are sending mixed messages: ● Credit vs. Equities: Stocks are down 15–25% from recent highs, but investment-grade and high-yield credit (LQD/HYG) are off just ~2%. ● Inflation: Michigan Survey may show elevated expectations, while tomorrow’s PCE data could surprise with a deflationary core. ● Why the disconnect? Stretched equity valuations and a consensus pricing in less growth—not recession. But that optimism may be fragile, especially with unresolved tariffs and policy risk in the backdrop. As equity markets reprice, credit continues to hold firm. At Palmer Square, our focus on opportunistic credit strategies that emphasize floating-rate instruments built to adapt to these moments of dislocation. #CreditMarkets #FixedIncome #FloatingRate #InterestRates #TreasuryYields #FedPolicy #PalmerSquareCapitalManagement #MarketInsights