Corporate issuers are increasingly traversing the global credit markets to optimize their funding strategy. Investors should adopt the same mindset, argue David Mechlin and Eileen Liu.
In today’s credit markets, yields remain attractive, there are signs of further market growth and investors continue to seek income. Yet behind these familiar themes, the lines between syndicated loans, high yield, illiquid credit and CLOs are increasingly blurred. Issuers and investors alike are moving fluidly across these segments, reshaping the structure of global corporate credit markets.
This evolution prompts a key question for allocators: If issuers now operate across a continuum of markets, shouldn’t portfolios be constructed to reflect the same? However, before reaching any conclusions for investors, we need to look at the macro backdrop and issuer behavior.
You can now read the full whitepaper at the link below
