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Michael Kao, CIO at Akadia Capital, discusses recent concerns about collateralized loan obligations (CLOs) in a post dated 5/13/26. Kao shares charts from CIFC Asset Management, emphasizing the resilience of the securitization structure and addressing myths raised by market participants in recent months.
He highlights that the first set of charts demonstrate the robustness of the CLO securitization structure, while the later charts contextualize recent market reactions.
Kao has previously compared historical yield curves, pointing to a recent steepening in long-end rates in a recent analysis of rate trends. He has also referenced the use of the Equities ANLZ SHORT tool for PCT and noted a possible issue in recent equities analysis. These posts reflect Kao’s focus on technical signals and structural factors in financial markets.