Opinions

Insight  |  October 27, 2026

Aviation finance – a new flightpath for investors

As traditional lenders become more selective, aviation’s growing financing needs are creating new opportunities for specialist private capital.

Insight  |  October 26, 2026

Muzinich Weekly Market Comment: Always Look on the Bright Side of Life

The third week of the month is usually a dull affair, with little economic data to analyze, and this one was quieter still. The Federal Open Market Committee (FOMC) was in its blackout period ahead of this week’s meeting, many corporations were in theirs ahead of Q3 results, the new UK government was busy preparing a much-anticipated first Autumn Budget, and the US Administration was deep in midterm campaign mode.

Insight  |  October 19, 2026

Muzinich Weekly Market Comment: Occam’s Razor

China came back from Golden Week with good news on two fronts.

Insight  |  October 14, 2026

Parallel lending: Five lessons learned

Gianluca Oricchio and Gianpaolo Pellegrini share five lessons from investing alongside Europe’s banks, covering bank partnerships, credit selection, portfolio construction and liquidity, and consider how the opportunity could evolve from here.

Insight  |  October 12, 2026

Muzinich Weekly Market Comment: Inflation, Growth, or Sustainability

It was a quiet week, at least relative to the past five, during which investor fears climbed, prompted by a wholesale reassessment of expectations for the final quarter. At the epicenter was central bank tightening, with investors pushing out their projections for the peak in rates across the globe.

Insight  |  October 9, 2026

US High Yield: Compelling opportunity to add higher- quality yield

Following a sharp sell-off in US high yield, improved valuations are creating an opportunity to add higher-quality yield. With fundamentals remaining resilient and dispersion increasing, we believe the current environment is rich with the potential for strong-risk adjusted investment opportunities.

Insight  |  October 7, 2026

Parallel lending: Diversification beyond traditional private credit

Parallel lending can provide a differentiated source of diversification, offering access to bank-originated European corporate loans with floating-rate income, senior-secured structures and exposure beyond traditional public and private credit markets.

Insight  |  October 6, 2026

AI’s funding boom: What bond markets are telling us

The market is showing its hand. The cadence of AI-related debt issuance is increasingly influencing credit spreads, creating supply-driven risks as well as opportunities for active managers to dynamically adjust exposure as issuance ebbs and flows.

Insight  |  October 5, 2026

Muzinich Weekly Market Comment: Europe’s Widening Sovereign Divide

Rising bond yields are exposing growing divergence within European sovereign markets, as fiscal concerns drive spreads wider against Germany. While volatility is also weighing on credit, resilient growth and earnings could create opportunities for selective high-yield investors.

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 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  |  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.