FS energy market commentary

JUNE: Concerns over spikes in COVID-19 cases weighed on energy sentiment in June | As global crude supply remains muted, further recovery in oil prices hinges on the return of demand in the U.S., the world’s largest energy consumer.
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FS credit market commentary

JUNE: The recovery in markets continued in June, but at a slower pace amid concerns over rising COVID cases | HY Bonds and Senior Secured Loans still ended the month up, returning 0.97% and 1.14%, respectively, capping off the best quarter for each market since Q3 2009 | Interest rates spiked early in the month before declining slightly and the duration-sensitive Barclays Agg returned 0.63
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FS energy market commentary

MAY: Midstream led a continued recovery for the broader energy sector in May | While falling production volume is a negative for midstream, many firms have protections in place to help mitigate impacts
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FS credit market commentary

MAY: Steps to reopen the economy and progress toward a COVID-19 vaccine created an optimistic sentiment for much of the month, as HY Bonds, Senior Secured Loans and structured products posted strong returns | Interest rates remained relatively rangebound and the duration-sensitive Barclays Agg had a slight gain
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FS credit market commentary

APRIL: Markets broadly rallied in April on the back of unprecedented stimulus by Congress and the Federal Reserve | HY Bonds posted their strongest monthly performance since January 2019 while Senior Secured Loans recorded their largest one-month gain since 2009 | A decline in interest rates following an early-month spike boosted the duration-sensitive Barclays Agg
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FS energy market commentary

APRIL: The energy sector rebounded in April along with the market | Midstream was the top performer in the energy sector, with MLPs posting a record monthly return | WTI futures went negative for the first time ever amid an unprecedented demand shock brought on by COVID-19
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FS energy market commentary

MARCH: Markets plunged in March, with energy leading the way down | Crude prices fell more than 5% due to a dual supply and demand shock | With global economies at a standstill and the world awash with oil, the market appears to be in a holding pattern
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FS energy market commentary

FEBRUARY: The energy sector continued its rocky start to 2020 | Crude prices continued to fall and now sit 27% lower than at the start of the year | Uncertainty has taken over markets, presenting challenging headwinds for commodities and energy markets
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FS energy market commentary

SEPTEMBER: Upstream and integrated oil companies bounced back in September while midstream performance was negative. Risks in Colorado weighed on midstream sentiment. Retail investors are increasingly using funds to access the energy infrastructure space.
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