Since the financial crisis, for a relatively liquid investment CLOs consistently have had the highest spreads net of capital costs for US life insurers.
Investment grade and high yield credit in emerging markets have delivered divergent performance over the summer. Could this trend reverse, or is investor caution warranted in the high yield space?
Michael Cembalest discusses the aches and pains constraining growth around the world, the severity of these ailments, and the degree of contagion from emerging to developed economies.
Learn about the important topics covered in the Outlook and their potential impact on broader markets. Michael Cembalest touches on topics including: the global banking system, oil markets, the credit risk of US states and credit market liquidity.
Scott McKee, Emerging Markets Corporate Bond portfolio manager, explores the opportunity set in corporate EMD
A close look at the Progressive Agenda, China’s deteriorating welcome mat in DC and US Tech IPOs
EM should continue to provide a substantial economic growth alpha relative to developed markets due to better demographics and a productivity catch-up.