There may be trouble ahead

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Investors have taken comfort from private debt’s response to the crisis, but economic turmoil still lies in wait.

There are certainly some very different views in the market as to how quickly the next wave of distressed opportunity is likely to materialise. As we have reported previously in Lead Left, many think central bank interventions have served to prop up economies and individual businesses in the short term but that they have merely deferred distressed opportunities until later – effectively a can-kicking exercise, in other words.