For over a decade, including through covid-19, the tide of capital has flowed mostly in one direction: into markets. That’s because since the great recession of 2008, central banks across the world have kept interest rates low. Public credit, both loans and bonds, benefited from this support, but as we look ahead to 2023, it is important to shift our gaze and examine the impact of rate hikes and quantitative tightening on capital markets and private credit.
Churchill’s predictions for what will shape private credit in 2023?
As markets are upended by the resurgence of inflation and interest rates, credit managers will face a range of issues in the year ahead, say Churchill Asset Management's Randy Schwimmer and Jessica Nels.
