Oaktree Capital

Repeating his warning that markets are undergoing a “sea change” that will see a new set of winners and losers emerge in short order, the famed distressed-debt investor said it’s time to consider a profound shift from asset ownership to lending and credit.

The meltdown of Silicon Valley Bank is “an early step” towards a more rational market environment, according to Howard Marks, but new problems might arise from bank exposure to commercial real estate.