Podcast on the challenges participants are facing today
The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.
Audio file discussing the retirement challenges participants face today.
LTCMA 2019 Theme: The evolution of market structure. Managing illiquidity risk across public and private markets.
Michael takes a close look at the question of rising committed and unspent capital in private equity, and implications for investors.
Investors were disappointedInvestors were disappointed that trade tensions re-escalated and the Fed viewed their actions as a “mid-cycle adjustment".
Investors are concerned about the deterioration of corporate debt quality, marked by lower credit ratings and a large share of covenant-lite issuance in the loan market.
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
For the first time in 20 years, markets will have to survive without support from central banks.