Amid a massive return since the March low, the default rate has nearly tripled from year-ago levels as recovery rates deteriorate. “Kicking the can down the road” as vulnerability grows.
Companies increasingly adopt ESG principles as investment managers integrate sustainability metrics into their investment process. But it’s still “something of a wild west.”
Federal Reserve and other major central bank stimulus should benefit high-quality value stocks and foster inflation’s “green shoots” as the global economy emerges from recession.
