A new report from BlackRock, written macro credit research head Amanda Lynam and macro credit research strategist Dominique Bly, looks at the implications of the wait-and-see approach of the Federal Open Market Committee, and cautions investors about the opportunity cost of being too defensive in this environment.
This is a time, Lynam and Bly believe, when investors might well accept lower quality debt instruments (selectively of course) to capture additional spread premium.
