While uncertainty is still top of mind, we believe active managers will find opportunity in the dispersion across asset classes, industries and ratings

While the commercial real estate market continues to cope with impacts of the pandemic, we outline performance expectations for key sectors and dig into the dispersion created by this environment.

The Q3 bounce has been stronger than expected, and consumers remain resilient. But with concerns about volatility rising and income still hard to find, it’s clear the challenges of 2020 are not over.

A sharp global economic slowdown, heightened trade uncertainty, plunging interest rates and wilting business sentiment. These and other factors complicate the investment landscape.

In this report, Robert Hoffman outlines his expectations for positive, primarily income-driven returns for HY bonds and senior secured loans this year.

Lower interest rates provided a tailwind for commercial real estate markets in Q3, and particularly for CRE debt markets.