This quarterly review provides market insights and outlook for the Global Credit Income strategy. Learn more.

Key Highlights  


  • Global investment grade credits largely narrowed over the quarter as investor sentiment started to improve with a little more optimism toward the macro backdrop.
  • Credit valuations appear favourable from a longer-term perspective with spreads falling to levels attractive relative to history although shareholder friendly activity including mergers and acquisition and share buybacks etc. continues to be a risk to credit fundamentals.
  • Although credit spreads were not immediately impacted by the recent US Federal Reserve (Fed) announcement to raise interest rate by 25bps, we remain concerned about the impact on credit markets as the cycle evolves.


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