Session recording

Market Dynamics And The Evolving Private Credit Landscape

The timing and the shape of the recovery post the pandemic remains uncertain. However, private debt offers an essential source of liquidity and long-term finance as banks continue to exhibit low-risk appetite.

Have the markets become unmoored from fundamentals?

The strong recovery of financial markets in recent months has far outpaced the real economy’s more mixed rebound. We show that a broadly similar divergence has been a feature of every U.S. recession for more than 50 years. Furthermore, the timing of such divergences has typically been a powerful signal of a forthcoming macro recovery.

PGIM Fixed income fourth quarter market outlook

Longer time horizons naturally have a wider window of uncertainty; the more time, the more opportunity for foreseen and unforeseen risks to jump into the picture. However, at this juncture, our perception of time and risk is flipped.

Active is: Converting fallen angels to saints

With global growth having collapsed under the impact of the coronavirus, rating agencies have been swift to downgrade companies, with many sizeable issuers already falling into high yield and more are expected in the coming months. Rather than a threat, this could be an attractive opportunity for canny investors.