■ After a lengthy period of artificially low volatility driven by unconventional central bank policies, we believe global markets have entered a phase that may exhibit higher baseline volatility than over the past decade.
■ Volatility spikes may also be more pronounced compared to prior cycles, due to the potentially destabilizing influence of short volatility strategies and the reduction of traditional liquidity providers.
■ The corporate debt market is exhibiting excesses along several dimensions, and there is growing evidence of late-cycle dynamics.
■ Specialized approaches may help fixed incomeinvestors navigate this climate.
Read the full sponsored commentary now at the link beneath Related Files/Links