Viewpoints Disruption and Dispersion: A Bottom‑Up Approach to an Uneven Credit Recovery While the COVID-19 pandemic has disrupted global credit markets, we believe bottom-up research can reveal investment opportunities for 2021.
Credit markets experienced a roller coaster ride in 2020. Credit spreads initially widened as the emerging COVID-19 pandemic weakened risk sentiment and liquidity, and the global economy was temporarily shut down. But rapid, massive stimulus from central banks and fiscal authorities led to a quick recovery. Although recent successes in developing and deploying coronavirus vaccines have encouraged investors to look past near-term economic weakness, the pandemic has amplified long-term disruptors, increasing the importance of credit selection and alpha generation. To Read the Full Article Log In Or Register
Blog Agency MBS: Opportunities for Alpha in a Post‑QE World Agency mortgage-backed securities (MBS) have faced unique challenges in 2022, but these challenges also create attractive new opportunities for active management.
Blog Shelter From the Storm Amid stormy markets, senior securitized credits hold potential for resilient returns.
Blog Credit Where Credit Is Due: Four Common Misconceptions in Public and Private Credit Markets Heightened market volatility has led to misconceptions about credit, in our view. We dispel four of them here.