Babson's Head of Global Private Finance, Eric Lloyd, provides an overview of global private credit markets with a focus on direct lending opportunities that exist in the asset class across geographies and the capital structure.
As major central banks have reached the lower bound of ZIRP, it seems the next order of monetary policy easing is being conducted in the foreign exchange markets.
With approximately $1.6 trillion in outstanding bonds, the EM corporate debt market has become comparable in size to the U.S. high yield market and the asset class is fast becoming a permanent portfolio allocation of global institutional investors.
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The continued easing of monetary policy across Europe has resulted in a highly unusual environment characterized by negative-yielding government bonds. The implications are far-reaching and may provide insight into investors’ views on risk aversion, deflation and future currency moves.
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