All Credit articles
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White papersEuropean Private Loans: Quality by Design
European private loans should not be read as simply another form of private credit. They are better understood as, on average, high-quality investment grade bank lending, with embedded illiquidity premia well suited for a tight spread environment.
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White papersPrivate Credit: An Emerging Silver Lining
Careful deal selection and attention to risk can help investors capitalize on recent market turbulence.
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VideoHow could inflation and AI shape fixed income markets?
Inflation remains an important consideration for fixed income investors, although the outlook may differ over the short and longer term. Supply pressures and investment in artificial intelligence (AI) could add to inflation in the near term, while productivity gains from AI could contribute to a more disinflationary environment over time.
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White papersSix Themes Redefining the Corporate Hybrid Market
The corporate hybrid market has gone global, with issuance hitting €108 billion in 2025. Six forces are reshaping what this asset class is, who issues it, and how investors should approach it.
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White papersFixed Income Outlook 3Q 2026: Looking to the Data When Visibility Is Low
Diverging economic growth and less visibility on policy are creating opportunities in fixed income rates and credit.
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White papersEuropean High Yield: Market supportive despite geopolitical tensions
This article is part of the Fixed Income Quarterly Outlook for Q3 2026, covering Emerging Market Debt, Euro Credit, Euro High Yield, Sovereign Bonds and US Agency Mortgage-Backed Securities.
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White papersEuro Investment Grade: Carry and income drive returns
This article is part of the Fixed Income Quarterly Outlook for Q3 2026, covering Emerging Market Debt, Euro Credit, Euro High Yield, Sovereign Bonds and US Agency Mortgage-Backed Securities.
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White papersFixed income: Resilient, but more selective
Fixed income enters the second half of the year in a relatively strong position, though the path forward has become less certain. Yields remain attractive, and fundamentals are broadly stable, but tighter spreads and shifting policy expectations are leaving less room for surprises. The result is a market that still offers opportunity, but one where outcomes are increasingly shaped by how well investors navigate changing conditions rather than broad market trends.
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White papersPrivate credit is not one market: why European allocators need a more precise lens
Private credit has moved from a niche allocation to a structural component of European institutional portfolios. Over the past 15 years, the global market has more than tripled in size, far outpacing the growth of the public credit universe.
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White papersWhy value can never go out of style in high yield
There is an unappealing paradox at the heart of investing in line with a bond index: the more indebted an issuer, the larger its place in the benchmark. The largest 20% of issuers account for close to 60% of the ICE BofA Global High Yield Index, for instance.¹
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White papersBuilding unexpected bridges in high yield
The active-passive debate has long been framed as a contest between competing investment philosophies. In equities, the distinction is familiar: passive delivers low-cost market exposure, while active promises the possibility of outperformance through stock selection.
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White papersShifts, myths and monoliths: A clearer view on private debt
Private debt has come under increased scrutiny in recent months. But attention has focused on a relatively small corner of a vast and varied asset class. Here, we set out some of the biggest myths surrounding private debt and explain why the evidence does not support them.
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White papersThe Rise and Rise of Private Debt for Insurance Investors
Private debt keeps gaining ground in insurance portfolios for many reasons.
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White papersFallen angels are outpacing rising stars – Should investors worry?
Over the past 12 months, the number of fallen angels has exceeded the number of rising stars for the first time since 2021. What does this signal and how can high yield investors take advantage of it?
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White papersHow SpaceX and AI Spending Are Reshaping Investment Grade Credit
Hyperscalers are coming to the bond market at scale to fund AI spending, and the implications for investment grade credit investors are significant.
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White papersHow U.S. middle market direct lending complements and enhances European portfolios
Direct lending continues to expand across Europe as institutional and sophisticated high-net-worth investors recognize the attractive opportunities available. Demand for private credit, and specifically middle market direct lending, is growing faster than supply, prompting investors to look beyond their domestic markets.
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White papersInfrastructure private debt provides resilience and returns
We recently spoke with Gilles Lengaigne, Infranity’s managing partner and head of origination and corporate development, and Sacha Kamp, managing director and global head of the debt investment team, about Infranity’s role in the market and what is happening in the infrastructure private debt sector. Following is an excerpt of that conversation.
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White papersThe Full Picture: How Factors Work Together in Systematic Fixed Income
Systematic fixed-income investing is an active approach that aims to beat market returns by identifying and harnessing the factors that drive bond performance.
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White papersInvesting in euro high yield: Key considerations for insurers
Across European insurers’ portfolios, allocations to high-yield public corporate credit remain modest, at around just 2%.
