/perspectives/media/a-vast-market-in-private-credit

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

 


FEATURED PERSPECTIVES

April 04, 2024

2024 Election Uncertainty Could Drive Fixed-Income Outperformance

Rising economic policy and geopolitical uncertainty may favor higher quality fixed income in this election year.

March 27, 2024

First Quarter 2024 Quarterly Macro Themes

Research spotlight on what’s next.

March 26, 2024

Learning from Turning Points in Monetary Policy

The Case for Moving Into Higher Quality Fixed Income (and out of Money Markets and Equities) While the Fed Is Paused… and Ahead of Coming Rate Cuts.


VIDEOS AND PODCASTS

Are Fixed-Income Investors Being Compensated for the Risks They Are Taking? 

Are Fixed-Income Investors Being Compensated for the Risks They Are Taking?

Maria Giraldo, Investment Strategist for Guggenheim Investments, joins Asset TV’s Fixed Income Masterclass.

Macro Markets Podcast 

Macro Markets Podcast Episode 51: What's Holding Up Inflation…And Other Macro Themes

Matt Bush and Maria Giraldo join the Macro Markets podcast to discuss our newly published Quarterly Macro Themes for 1Q 2024.







Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks charges, expenses and the other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or call 800.820.0888.

Investing involves risk, including the possible loss of principal.

Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors.

© Guggenheim Investments. All rights reserved.

Research our firm with FINRA Broker Check.

• Not FDIC Insured • No Bank Guarantee • May Lose Value

This website is directed to and intended for use by citizens or residents of the United States of America only. The material provided on this website is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation. Investing involves risk, including the possible loss of principal.