Opinions

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Insight  |  November 21, 2022

Muzinich Weekly Market Comment

In our view, the past week was constructive for capital markets. Chinese policy makers initiated a strong start to the week by announcing plans to loosen China’s zero-COVID policy and provide additional financial support for the property sector.

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Snapshot  |  November 15, 2022

Corporate Credit Snapshot – November 2022

Global markets delivered mixed returns this month as risk assets rallied in anticipation of a more dovish monetary policy “pivot” from major central banks

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Insight  |  October 12, 2022

Income is Back – Enjoy It

After a significant sell off in credit markets, yields have reached levels that we believe should protect investors from future volatility while providing an attractive income stream.

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Insight  |  October 10, 2022

European High Yield – Timing your Entry Point

Despite a weakening macroeconomic backdrop, valuations in European high yield have reached what we believe to be interesting levels. Is now a good time to consider an allocation?

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Analysis  |  September 8, 2022

China High Yield – Have We Reached the Bottom?

The China high yield market experienced a rapid recovery in August. What’s changed?

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Analysis  |  July 20, 2022

Time to Allocate to Credit?

Following a difficult first half for credit markets, we believe it may be worthwhile adding credit to portfolios, especially US high yield credit.

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Analysis  |  July 15, 2022

Asia Credit – A Crisis in Confidence, Not Fundamentals

What is causing the current weakness in the Chinese high yield credit markets?

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Analysis  |  June 22, 2022

Keep Calm and Carry On – 10 Reasons to Stay Invested in High Yield

Despite the heavy price action we have witnessed in the high yield market since the start of the year, we believe high yield investors should hold firm and potentially consider adding to their exposure at what we believe could be an attractive entry point into the asset class.

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Viewpoint  |  May 13, 2022

Parallel Lending Investment Strategy; A Primer

The growth of non-bank financial intermediation (“NBFI”) is a clear worldwide trend over the last 15 years.

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Analysis  |  March 14, 2022

Value In Credit?

With the tragedy unfolding in Ukraine and persistent concerns about inflation, fear has now started to replace greed in markets, which may create interesting opportunities for long term investors.  It is very difficult to time markets, but we believe a focus on fundamentals during periods of volatility helps provide a framework for good decision making. 

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Analysis  |  March 4, 2022

The Impact of War

Putin’s attack on Ukraine is having wide-reaching consequences for global financial market as investors reconsider their options

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Viewpoint  |  February 22, 2022

Syndicated Loans – A Safe Port in a Storm

Against a backdrop of economic recovery but the prospect of rising interest rates, where can credit investors look for yield while protecting themselves from interest rate risk?

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Insight  |  February 18, 2022

Asia Credit – Bounding into the Year of the Tiger

The recent relaxation of Chinese property sector regulations, a lack of inflationary pressure, stronger external positions vs. the 2013 Taper Tantrum

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Analysis  |  February 10, 2022

Emerging Markets - The End of Free Money?

Despite a shaky start to the year for risk assets, emerging markets have held up relatively well and we believe offer encouraging investment opportunities which are backed by economic recovery.

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Analysis  |  February 8, 2022

Emerging Markets Update - Inflation

Will developed market central banks follow their emerging market counterparts in combatting inflationary pressures?

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Analysis  |  February 1, 2022

Dialling Down Risk

Caution Warranted as Rates Moves and Higher Inflation Cloud the Outlook for Credit.

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Analysis  |  January 27, 2022

US High Yield – Current Market Considerations

We believe a recent rise in volatility presents an interesting opportunity for investors in US high yield.

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Insight  |  January 25, 2022

European Private Debt – A Bright Outlook

Does a strong recovery in deal flow and the prospect of protection from rising interest rates reinforce the investment case for private debt?

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Viewpoint  |  December 7, 2021

Corporate Credit Outlook 2022 - Time to Harvest Carry

While risks remain, we expect the global economic momentum to continue into 2022, creating a potentially positive backdrop for credit.

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Analysis  |  November 15, 2021

US High Yield – The Law of Supply and Demand

An anticipated increase of rising stars in US high yield over the next 12 to 18 months could result in a strong technical backdrop for the asset class.

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Analysis  |  November 8, 2021

Inflation – A Perfect Storm

Deeply interconnected global themes are driving inflationary pressures, it’s not just because of a post-COVID surge in economic activity argues Tatjana Greil-Castro.

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