Not the time to be idle — Taking action in today’s credit markets
Episode four: The risk/reward paradigm of US High Yield
September 13, 2023
The webinar with Andrzej Skiba, Head of US Fixed Income and BlueBay Senior PM at RBC GAM, took place on September 13th.
- US high-yield bonds remain attractive compared to private credit.
- Private credit is plagued by a lack of transparency and a lack of liquidity.
- In an economic scenario where there's a fair amount of uncertainty, liquidity is very valuable.
- Companies using private credit are highly levered, which make them vulnerable to economic slowdown.
- The leverage within public debt space is running at the lowest since the global financial crisis.
- The wall of money pouring into private credit has watered down covenants and shrunk spreads.
Notes from the desk of Polina Kurdyavko
Argentina - living on the edge
Polina Kurdyavko hits the road, reflecting on her observations from around the world while tying in fresh investment perspectives related to emerging markets.
- Most EM countries can't afford to maintain indebtedness and large fiscal burdens
- Chile and Peru have steadily improved their credit quality, but Argentina is spending beyond its means
- Argentina has a history of financial woes and the problem can't be fixed until they commit to stop overspending
Global Equity investor insight
Monthly update with Jeremy Richardson
To keep pace with fast-changing news from around the world, it helps to have an expert in your corner. Tune in each month as RBC Global Equity Senior Portfolio Manager Jeremy Richardson reviews key global market events in one concise video to help keep you informed.
We are pleased to offer additional vehicles for investment in our emerging markets and international equity strategies listed below.
RBC Global Asset Management has expanded its investment capabilities by bringing on talent based around the world, allowing us to build truly global portfolios. Our investment teams are committed to the pursuit of deep fundamental knowledge, collaboration, integrating advanced investment and risk management tools, and embracing innovation.
Source: RBC Global Asset Management Inc.
RBC Global Asset Management brings a breadth of investment capabilities that allow us to create customized client solutions through RBC GAM's specialized investment teams supported by global resources.