“Don’t fight the Fed.” This old adage has been proven right over many short time periods, second quarter 2020 the most recent among them.
Broadly syndicated loans are a sizable component of the US credit market, but, surprisingly, they are not widely followed or well understood.
Investors initially downplayed news of the novel coronavirus outbreak in China, and equity indexes continued to press higher for the first weeks of 2020 as they did for much of 2019, led by growth-
This morning’s election results once again drove home the futility of human efforts to predict the future.
The United Kingdom’s vote to leave the European Union has already led to signficant turbulence in global currency and securities markets. Beyond this immediate reaction, we believe that political and economic uncertainty could continue for several years as the UK negotiates its new relationship with the EU.