Access the Powerpoint slides of this month’s ET Pro monitors here.
Access the PDF version of the ET Pro monitor slides here.
Access the underlying Excel data here.
- The Q4 narratives promoting the idea of a ‘coming collapse’ in credit markets precipitated by leveraged loan markets has faded somewhat in attention and cohesion.
- Sentiment, likewise, has continued to improve.
- The language of fear of a credit market collapse continues to exist – ‘vulnerable’, ‘financial stability risk’ and ‘illiquidity’ continue to define some topical clusters, but they are peripheral and have become more so over the last several weeks.
- The more central narrative structure exists around issuance, new fund launches and asset owner transitions of asset allocation to direct lending and private credit mandates.