Davidson Kempner's CIO sees potential bargains if loan defaults rise

Forbes reports that Davidson Kempner CIO Tony Yoseloff expects the long-term default rate for public and private loans to settle around 5% to 6%. He hopes the firm could benefit if defaults rise in the short term and more private companies seek rescue financing. Yoseloff says the firm is loading up on asset-backed loans, where he sees less competition.