Blackstone Secured Lending Fund in 2 stories
The narratives BXSL currently appears in, with its side and exposure in each.
Bull side
1 story- Treasury Yields & Debt
BXSL in “Treasury Yields & Debt”
FadingExposure: not rated yetHeavy federal borrowing keeps the term premium—and capital costs—higher for longer.
Its predominantly floating-rate private loans can generate more income while benchmark rates remain elevated, subject to credit losses.
Bear side
1 story- Wall Street Reclaims the Credit Machine
BXSL in “Wall Street Reclaims the Credit Machine”
FadingExposure: not rated yetDeregulation and a reopened deal market are shifting bargaining power back toward banks, brokers and advisers.
More aggressive bank lending can reduce the scarcity premium earned on senior private loans.