The Big Picture by John Fekete: The Elusive Recession

John Fekete, Crescent Capital’s Head of Tradeable Credit, discusses the state of the U.S. economy and the outlook for debt markets.

• Credit market bearishness is pervasive while economic data is resilient
• Fixed income yields are at their highest level in over a decade
• The highest quality segments of the credit market have lagged, providing investors with an attractive entry point
• High yield bonds and bank loans have historically performed well following a Fed pause

Read the full commentary here