Opinions

Insight  |  September 29, 2026

AAA CLOs: High-quality floating rate income for a volatile rate environment

Against a backdrop of interest-rate uncertainty and government bond volatility, AAA CLOs offer investors the potential for attractive floating-rate income, high credit quality and limited interest-rate sensitivity, argues Sam McGairl.

Insight  |  September 28, 2026

Muzinich Weekly Market Comment: The Long End Reprices

Strong economic data pushed US Treasury yields sharply higher as markets priced in a more persistent inflation outlook and further Fed tightening, while resilient growth helped keep credit spreads relatively contained.

Insight  |  September 23, 2026

The hidden return in high yield

Much of the European high yield market is trading below par again - headline yield does not show what a potential early call is worth.

Insight  |  September 14, 2026

Muzinich Weekly Market Comment: Economic Reflation

It was a difficult week for investors. Only a portfolio of cash and oil - fully hedged into Japanese yen – would have come out ahead; an unlikely allocation, and barring it, few strategies managed to finish the week with a positive total return.

Insight  |  September 7, 2026

Muzinich Weekly Market Comment: Critical Month for China

As global markets grapple with rising yields, geopolitical tensions and shifting rate expectations, China is back in focus. With domestic growth under pressure and trade tensions resurfacing, September could prove a critical month for the world’s second-largest economy.

Insight  |  August 24, 2026

Muzinich Weekly Market Comment: Running up a down escalator

Robust European data is being overshadowed by geopolitical tensions and rising sovereign yields. With governments and corporates competing for investor capital and uncertainty pushing up term premia, we believe the short end of emerging market debt and high yield offers a way to capture resilient growth and corporate earnings while limiting exposure to long-duration risk.

Insight  |  August 18, 2026

High yield’s AI era: Assessing the data center buildout

The rapid growth of data-center issuance is reshaping the US high yield market. While echoes of previous investment cycles remain, contracted cashflows and stronger counterparties are creating opportunities for investors able to navigate construction and credit risk.

Insight  |  August 6, 2026

The spread curve is back

After years of unusually flat credit spread curves, the market is beginning to differentiate more clearly between short- and longer-dated risk. As issuance, rate uncertainty and technical factors reshape valuations, the front end continues to offer a compelling balance of carry and resilience argue Ian Horn and Eric Schure.

Insight  |  July 29, 2026

Beyond spread: Why Europe’s growing high yield market is creating new opportunities

Much has been made of historically tight spreads in European high yield, with some investors questioning whether the asset class still offers attractive opportunities. Yet a closer look at the resurgence in primary market activity suggests the opportunity set is broader than headline valuations imply, argue Erick Muller and Thomas Samson.

Insight  |  July 15, 2026

Finding value without reaching for yield

Tight spreads often push investors to reach for yield in lower-quality credit. We think more durable opportunities lie elsewhere – pull-to-par, carry earned without taking on distressed credit risk and seeking out good businesses with good balance sheets that are trading cheap because of temporary disruption.

Insight  |  June 30, 2026

Beyond cash: The case for short-duration crossover credit

As investors seek alternatives to low-yielding cash and rate-sensitive fixed income, short-duration global credit strategies are attracting attention. As investors seek alternatives to low-yielding cash and rate-sensitive fixed income, short-duration global credit strategies are attracting attention.

Insight  |  June 9, 2026

Defined horizons, compelling income: The appeal of fixed maturity portfolios

In a world of shifting rate expectations and persistent volatility, fixed maturity portfolios are re-emerging as a compelling way to capture income, improve portfolio resilience and bring greater certainty to fixed income investing as Joseph Galzerano and Richard Smith discuss.

Insight  |  June 4, 2026

The evolution of private credit: Understanding direct and parallel lending

Private credit is no longer one-size-fits-all. Understanding different lending models can help investors evaluate opportunities and balance risk and return, say Kirsten Bode and Gianpaolo Pellegrini.

Insight  |  May 28, 2026

Paid to wait: double-digit income at a discount in BDCs

Market volatility has created a compelling entry point in Business Development Companies (BDCs), where discounted valuations and resilient fundamentals offer liquid access to private credit, although selective, active allocation remains critical argues Ji He.

Insight  |  May 19, 2026

Rise above the noise

With yields reset and fiscal dynamics evolving, the fixed income opportunity set is changing. Tatjana Greil-Castro examines why participation, compounding and relative balance-sheet strength support a strategic allocation to corporate credit over sovereign bonds. As investors consider their own pension outcomes, short-dated, actively managed corporate credit can offer a defensive entry point with the potential to outpace inflation.

Insight  |  April 23, 2026

Market neutral - Why standing still in credit may carry more risk than investors realise

As volatility returns to credit markets and dispersion increases, a market neutral approach offers investors a way to stay invested while reducing reliance on market direction and capturing relative value opportunities, argues portfolio manager Jamie Cane.

Insight  |  March 4, 2026

Why credit markets offer greater control during disruption

As investors reassess business model durability, capital intensity and long-term monetisation, market narratives have become more volatile and polarised.

Insight  |  February 19, 2026

Discipline among disruption – private credit investing in the age of AI

AI is forcing investors to rethink business models and the embedded risks. For private credit, distinguishing durable cash flows from disruption risk has become critical, argue Rafael Torres and Gianpaolo Pellegrini.

Insight  |  February 17, 2026

Asia Pacific private credit - Complexity creates opportunity

Supply chain reconfiguration, infrastructure needs and divergent banking behaviour are reshaping demand for capital, creating a landscape where complexity, selectivity and structure are defining the private credit opportunity set, argues Andrew Tan.

Insight  |  February 4, 2026

US private credit - The lower middle market - the one less travelled by

In an environment of heightened competition and macro uncertainty, the lower middle market stands out as a structurally underserved segment in private credit, offering greater control, stronger protections and more resilient returns, argues Jens Ernberg.

Insight  |  January 29, 2026

Opportunities beyond the crowded core

In an increasingly competitive market, disciplined execution and a focus on the lower middle market remains critical to preserving capital and long-term returns, argue Kirsten Bode and Rafael Torres.