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The end of 2022 and beginning of 2023 saw volatile markets that were difficult in most asset classes. Inflation remained high, while markets ended the year on a down note. But a new report from asset manager Insight Investment, US Pension Market, shows that moderating inflation and a clearer idea of the terminal level of rates should help to stabilize sentiment.
If the upward trend in yields draws to a close, says the report, the level of income available in credit markets should be sufficient to generate attractive long-term returns, with spreads at levels that could be overcompensating investors even in a scenario where default rates are at historically extreme levels.
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