Opinions

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Insight  |  November 4, 2025

Know what you own

In-depth knowledge of underlying holdings is key to riding out periods of uncertainty and volatility, argue Tatjana Greil-Castro, Kirsten Bode and our team of public and private market investment professionals.

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Insight  |  November 3, 2025

Muzinich Weekly Market Comment: All is fine

October was anything but a straightforward month for investors. As reflected by our preferred market sentiment index, the VIX, volatility spiked to 25 intra-month - the highest level since Liberation Day.

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Insight  |  October 27, 2025

Muzinich Weekly Market Comment: “Wait-and-See” Mode

Investors spent most of the week in “wait-and-see” mode, ready to adjust expectations and positions as headlines on domestic and geopolitical developments, growth and inflation data and banking and corporate earnings were expected to offer more clarity on the roadmap ahead for the global economy and asset prices.

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Insight  |  October 20, 2025

Muzinich Weekly Market Comment: Deals done, and not

This past week, market saw increased volatility, but also optimism, driven by deals done and in progress. On the diplomatic front, the Israel-Hamas ceasefire appears to have given President Trump some bandwidth to seek resolutions for the Ukraine-Russia war.

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Insight  |  October 15, 2025

Corporates vs. sovereigns: why corporates have the edge

France shows why corporate bonds can beat sovereigns: some companies now borrow cheaper than the state itself.

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Insight  |  October 14, 2025

European high yield: A market built for active investors

Active management can unlock alpha in today’s European high yield market, argues Thomas Samson.

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Insight  |  October 13, 2025

Muzinich Weekly Market Comment: The Guidance of Financial Markets

There was little in the way of economic data this week with Golden Week in China, no central bank policy meetings (most are scheduled for the last week of October into the first week of November), and companies entering their blackout periods ahead of third-quarter earnings. Consequently, it was left to geopolitics to provide the entertainment, and to financial markets to offer guidance.

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Insight  |  September 23, 2025

From cash to credit: Taking advantage of the Fed pivot

Despite tight spreads, short-dated US high yield could be set to offer the kind of pickup over risk-free assets usually associated with volatility events, as Vikram Awasthi explains.

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Insight  |  August 22, 2025

European private debt: Resilience and opportunity

While upper-middle market companies navigate headwinds caused by global trade uncertainty, their lower middle market counterparts are proving remarkably resilient, explain Kirsten Bode and Rafael Torres.

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Insight  |  August 12, 2025

Beyond tariffs: Why megatrends will determine the future of Asian private debt

Despite geopolitical headwinds and cautious capital deployment, Asian private debt could be primed for the next phase in its evolution. Andrew Tan explains how long-term structural themes are reshaping the opportunity set.

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Insight  |  August 5, 2025

US high yield: Where convexity meets quality

A focus on quality, convexity and credit selection is key to navigating risk and generating returns in US high yield, argues John Colantuoni.

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Insight  |  August 4, 2025

A public path to private credit: The case for BDC equities

Business development companies offer insurers a liquid entry point to private credit. Ji He, Lloyd Ayer and Marcus VanBerkel explore how even a modest allocation can potentially boost income and reduce correlation risk.

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Insight  |  July 15, 2025

Strategic partnerships: Credit’s new frontier

Partnerships between banks and asset managers are reshaping the corporate lending landscape, as Gianpaolo Pellegrini and Stuart Fuller explain.

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Insight  |  July 11, 2025

Still exceptional: Why US assets continue to anchor global markets

Despite headlines warning of de-dollarisation and shifting capital flows, the fundamentals of US investment-grade credit remain strong. With new sources of structural demand emerging, rumours of the demise of US exceptionalism appear greatly exaggerated, argues Anthony DeMeo.

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Insight  |  July 10, 2025

European high yield: Rise of the underdog

As global investors look to add non-US dollar exposure, European high yield stands out as a stable, yield-enhancing alternative, as Thomas Samson and Jamie Cane explain.

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Insight  |  June 11, 2025

Firm foundations: Private credit and the transformation of European real estate

As Europe accelerates its push toward a low-carbon economy, private credit could become a key enabler of real estate transformation. Maurizio Cavaglià, managing director for private markets at Muzinich & Co, explains why the opportunity could be bigger than investors realise.

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Insight  |  May 27, 2025

Crossing borders: A global approach to short-duration credit

An allocation to global short-duration crossover credit may offer US and US dollar-focused investors multiple benefits, argues Eric Schure.

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Insight  |  May 21, 2025

Lift off: The case for aviation finance in institutional portfolios

As traditional lenders retreat from aviation finance, Muzinich & Co. aviation portfolio managers Alok Wadhawan, Brian Lau and Thomas Light make the case for institutional investors to allocate to the asset class.

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Insight  |  May 16, 2025

Global investment grade: Finding opportunities in an uncertain world

Global credit markets continue to grapple with renewed volatility driven by US policy shifts, geopolitical tensions and uneven fiscal responses across regions. Ian Horn and Anthony DeMeo discuss some of the recent changes in credit markets and how the opportunity set has evolved.

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Insight  |  May 13, 2025

Direct lending in a fragmented world

Tariff and macro uncertainty present risks and opportunities for private debt investors. Kirsten Bode, Rafael Torres, Andrew Tan and Michael Smith explain how these trends are manifesting in Europe, Asia Pacific and the US, while identifying common themes that cross borders.

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Insight  |  May 13, 2025

CLOs: Accessing high quality opportunities in structured credit

Collateralised loan obligations can offer investors attractive yields, low duration risk and diversification.

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