Opinions

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Insight  |  February 2, 2026

Muzinich Weekly Market Comment: Hedging the US Dollar

One month in, the long end of the government bond curve has underperformed – with the Japanese government bond curve steepening the most – while European government bonds outperformed their US peers across the curve. Corporate credit was a clear winner in fixed income, with emerging-market high yield as the standout performer. Within the investment grade space, European credit was the place to be, helped by its relative sovereign performance.

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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.

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Insight  |  January 26, 2026

Muzinich Weekly Market Comment: Return of the Bond Vigilante

After the fireworks of November, December kicked off on a decidedly quieter note. Our preferred sentiment index, the VIX, continued to decline, touching 15 - a level typically associated with stable markets.

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Insight  |  January 21, 2026

Private debt in 2026 - The underserved rises

In a fragmented global economy, our heads of Private Debt across Pan-Europe, the US and Asia Pacific discuss the five key themes they expect to characterise the market in 2026.

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Insight  |  January 19, 2026

Muzinich Weekly Market Comment: Resilience

“Resilience” best captures the behavior of financial markets during a week that, yet again, saw investor attention absorbed by international and domestic politics, amid both expected headlines and unforeseen developments.

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Insight  |  January 12, 2026

Muzinich Weekly Market Comment: No Volatility

We have started 2026 on positive footing. In many respects, the new year appears to be a continuation of how 2025 ended. Government bond yields have remained in a tight range; indeed, the MOVE index – our reference point for volatility and uncertainty in the US Treasury market – has fallen to its lowest level since 2021, suggesting investors are broadly comfortable with central bank policy expectations.

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Insight  |  December 17, 2025

All-weather resilience - 2026 emerging markets outlook

Emerging market credit enters 2026 supported by easing geopolitical risks, stable fundamentals and relatively appealing valuations, offering selective investment opportunities argues Warren Hyland.

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Insight  |  December 16, 2025

Roll down and Carry on - Credit investing in 2026

Tight credit spreads and strong fundamentals support disciplined positioning, favouring carry and high yield exposure to capture returns while managing risk, argue Erick Muller, Mike McEachern and Tatjana Greil-Castro.

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Insight  |  November 25, 2025

Parallel lending: A disciplined path to resilient credit

By aligning with regulated bank standards, we believe parallel lending offers a transparent and resilient alternative within a market under increasing scrutiny, argues Gianluca Oricchio.

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Insight  |  November 18, 2025

Private credit: cockroach or workhorse?

Recent headlines about a handful of private credit defaults have ignited a fierce debate in financial circles. If there’s one default, should we expect more? Like spotting a cockroach in the kitchen, some worry that a single sign of distress hints at deeper problems lurking unseen. Others view these incidents as isolated - the natural byproduct of credit investment. So, which is it? Is private credit the cockroach or the workhorse of modern finance? Tatjana Greil Castro provides her views in this article.

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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  |  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  |  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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