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Credit Roundtable: It Pays to Be Patient

In this corporate credit roundtable, Senior Vice President – Investment Specialist Katie Klingensmith discusses opportunities and risks in global credit markets with Portfolio Manager John McClain, Associate Portfolio Manager & Senior Research Analyst Renato Latini, and Research Analyst Kevin O’Neil. They focus on what investors may see in the second half of the year, including:

  • Given elevated macroeconomic and monetary policy uncertainty, are short duration exposures in high yield warranted?
  • What is the current health of US consumers and the banking sector?
  • Are there similarities or different sets of risks across high yield corporate credit, leveraged loans, and private credit?

Investors are starting to chase performance. However, they could face a choppy market in the back half of 2023. According to these experts, patience is warranted, given where valuations are across all asset classes.

Press play below to listen to the full commentary.

Groupthink is bad, especially at investment management firms. Brandywine Global therefore takes special care to ensure our corporate culture and investment processes support the articulation of diverse viewpoints. This blog is no different. The opinions expressed by our bloggers may sometimes challenge active positioning within one or more of our strategies. Each blogger represents one market view amongst many expressed at Brandywine Global. Although individual opinions will differ, our investment process and macro outlook will remain driven by a team approach.