Shares of banks and other financial institutions ticked down as concerns about private credit offset optimism about mortgage and commercial lending.
Shares of private-credit firms Blue Owl, Blackstone, Ares Management and Apollo Global all fell by 4.9% or more.
"Sunshine and time heals all wounds," said Oliver Pursche, senior vice president at financial advisory Wealthspire. "The fact that there's a focus on and an awareness of the issues with private credit...[and] on the lower lending standards that were applied in the boom years is a big positive. This can correct itself over time."
Credit investors are generally prepared for some level of default as long as risks are transparent, Pursche said.
Write to Rob Curran at rob.curran@dowjones.com
