A Vast Market in Private Credit

Anne Walsh, CIO of Guggenheim Partners Investment Management, joins Bloomberg TV from the Milken Global Conference to discuss the implications of ongoing issues in fixed income and how capital rationing favors private credit.

May 01, 2023

Key Takeaways:

Capital will be rationed during an economic slowdown and credit contraction.
But banks, lenders, and investors should benefit from moving up in credit quality.
In private credit, investors have the ability to manage credit requirements and covenants, which should attract capital.
One example of capital rationing is disintermediation in the banking sector.
The First Republic failure shows that disintermediation remains a problem, but it is not likely systemic.
The Federal Reserve will likely hike this week, but it will be slow to start cutting.

Read Q2 2023 High-Yield and Bank Loan Outlook: The Pre-Recession Playbook for Up in Quality

Macro Markets Podcast Episode 33: Fixed-Income Opportunity Now and Down the Road

Macro Markets Podcast Episode 34: Risk/Reward in High Yield/Bank Loans

FEATURED PERSPECTIVES

June 01, 2023

Fixed Income Is Now a Buyer’s Market

Improved value proposition in credit.

May 16, 2023

Second Quarter 2023 Fixed-Income Sector Views

Opportunity in fixed income rises with uncertainty.

April 18, 2023

The Pre-Recession Playbook for Up in Quality

An opportunity for active management.

VIDEOS AND PODCASTS

2022’s Upside: The Fed Has Put the Income Back in Fixed Income

2022’s Upside: The Fed Has Put the Income Back in Fixed Income

Anne Walsh, Chief Investment Officer for Fixed Income at Guggenheim Investments, joined Asset TV to discuss macroeconomic conditions, risk, and relative value in the bond market.

Macro Markets Podcast

Macro Markets Podcast Episode 35: A Deep Dive into Municipal Bonds

Allen Li, Managing Director and Head of Guggenheim Investments' Municipal Bond Sector Team, explains the structure and characteristics of the $4 trillion municipal market, the importance of technical dynamics, and where he is finding value.

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