Responding to last week’s discussion of the relationship between age and happiness [link], several readers asked what country has the happiest residents?

According to the World Happiness Report [link], Finland topped the list of 156 countries. The US was 19th, and South Sudan as the least cheerful place to live.

Finland is perhaps a surprising outcome, since it is also known for high depression rates and long, dark winters. But digging into the details, Finns benefit from a strong social safety net, a healthy community awareness, and excellent public services.

Going beyond headlines is also critical to understand the nuances of private credit nuances. Media articles suggest market conditions are changing. Does this mean the fundamental benefits of private credit have changed?