INVESTING IN A MATURING CREDIT CYCLE?
IGNORE THE CLOCK AND FOCUS ON COMPANY BEHAVIOUR
Risk assets have broadly enjoyed a strong and sustained recovery from the depths of the global financial crisis. But after an eight-year ascent, investors are left to wonder if this cycle is becoming long in the tooth. A closer inspection of the dynamics driving the high yield credit markets suggests that investors may be wise to focus more on the behaviour of companies and less on the absolute length of the cycle.
Explore the content below to understand why we believe it always comes back to fundamentals.
High Yield Bonds
Video: Fixed Income Investment Approach
Liquid Credit Markets