/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

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.

February 22, 2024

First Quarter 2024 Fixed-Income Sector Views

Investing as the Fed prepares to cut rates.


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 49: Evaluating Investment-Grade Corporates (and Listener Mail)

Justin Takata, Head of our Investment-Grade Sector Team, and Investment Strategist Maria Giraldo discuss the investment-grade corporate bond market.







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