In this special edition, Sophie Dimopoulou, Head of External Distribution in Luxembourg, is joined by Professor Athanasios Platias, Professor Emeritus of Strategy at the University of Piraeus in Greece, and Daniel Morris, Chief Market Strategist at BNP Paribas Asset Management.
Credit markets entered 2026 on a solid footing, but the landscape has since shifted significantly. What began as a year of macro optimism was tested by two successive shocks: AI-driven disruptions to private credit, and latterly, the Middle East conflict which reignited stagflation fears. However, despite this backdrop, the asset class has demonstrated notable resilience.
On 17 April, with the Iranian regime having confirmed US President Donald Trump’s claim that negotiations were indeed ongoing in a bid to put an end to the Middle East conflict, we increased our equity exposure to its maximum overweight.