More of our insights
Private credit: The changing role of banks
Banks’ new role as partners to private credit is emerging amid headwinds in the banking sector.
Private credit: Implications of rate cuts
The market has priced in significant Fed rate cuts by mid-2025, which will reduce private credit’s yield. With inflation normalizing, however, real yields should remain attractive relative to history.
Direct lending volume grows amid increased LBO activity
Private credit has increasingly become the preferred source of financing for PE sponsors, with direct lending volume jumping 60% over last year’s level.
Q4 2024 Corporate credit outlook: Jive like it’s 1995
Like the Fed’s 1995 mid-cycle recalibration, credit markets are supported by strong credit fundamentals and constructive technicals.
Credit quality comes into focus amid heightened volatility
High yield bonds have outperformed senior secured loans in recent months, given their more attractive duration profile and higher credit quality.
The Takeaway with Troy Gayeski: Are private credit markets too good to be true?
Our Chief Market Strategist shares key takeaways from his latest strategy note on whether private credit is saturated with too much capital.
