Alternative Credit: 2021 Outlook

While there were a range of fundamental factors—including corporate debt vulnerabilities and continued geopolitical tensions—to suggest the credit cycle was in a mature state heading into 2020, the exogenous shock of a global pandemic was not on many radars. The swift recovery of risk assets after the initial Covid-19 selloff was perhaps as unexpected, but lenders responsive to last year’s shifting liquidity environment likely were well positioned for this rebound.

Read more

To continue, please confirm: