Alternatives Archives

Credit

Is private credit a bubble?

Private credit has grown in both size and breadth, prompting questions around the risks of the asset class and whether it could represent a bubble. We address those concerns in this note.

More of our insights

Showing 1–6 insights out of 133 results

Mapping the markets: Q3 2024

We synthesize the latest analysis on macroeconomics, public markets and alternative strategies.

Election anxiety comes into focus for markets

This week’s chart highlights perceived market drivers over the next 30 days. Notably, the downside drivers outweigh the upside.

Column chart showing the results of a poll surveying investment managers’ views on market drivers over the next 30 days. Results were decidedly bearish, with the political environment and equity valuations among the largest expected drivers of negative returns. These factors more than offset supportive central bank policies and equity fundamentals in participants’ views.

Asymmetric returns: Managing downside for greater upside

With cash yielding 5%, the allure of asymmetric returns has become even more compelling. We explain why, in today’s high-risk-free-rate environment, the value proposition of alternative investments is stronger than ever.

Recent market volatility just the beginning?

Volatility spiked this week as macro questions came to the fore. If history is any guide, volatility could remain elevated as the election heats up.

Line chart showing expected volatility in rates (orange line) and equity markets (black line) steadily rising in the two months before U.S. Presidential elections from 1992 through 2020 and dropping once again after the election has been decided.

Playbook for the great lending evolution

Cyclical and secular forces are challenging the traditional banking sector. We explore the changing lending landscape and its implications for markets and investors as private alternatives fill the void as banks retreat.