In the capital markets this year, it’s all been about rates and inflation: can the Fed’s higher-for-longer regime bring prices down close to pre-pandemic levels without triggering a recession? At the moment, the answer seems to be yes.

Both credit investors and issuers are using private capital as a vehicle proven resilient through rate, economic, inflation, geopolitical and biological cycles. The success of the asset class has highlighted its unique characteristics, also creating questions from observers less familiar with illiquid credit dynamics…

▶︎ Read December 11th 2023 Newsletter: here

(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)