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In the capital markets this year, it’s all been about rates and inflation: can the Fed’s higher-for-longer regime bring prices down close to pre-pandemic levels without triggering a recession? At the moment, the answer seems to be yes.
Both credit investors and issuers are using private capital as a vehicle proven resilient through rate, economic, inflation, geopolitical and biological cycles. The success of the asset class has highlighted its unique characteristics, also creating questions from observers less familiar with illiquid credit dynamics.
Last week we reported on a conversation with Van Hesser, chief strategist for KBRA. Mr. Hesser joined us for our latest Private Capital Call podcast. Following up on our questions about credit defaults, we asked about the economic outlook, given earlier more pessimistic forecasts...
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