Andromeda Capital Management | Credit Webcast | October 2023 скачать в хорошем качестве

Andromeda Capital Management | Credit Webcast | October 2023

Investors entered the year with a consensus view on imminent recession risk, declining inflation and a long duration positioning. Our view was and is different today: we are not going back to the pre-pandemic world of low rates, low inflation and low volatility. Instead, we are in for an extended period of high rates, sticky inflation, and persistent fiscal spending. Three quarters into the year, core inflation remains above 4% across most developed economies, while labour markets are still solid. Fiscal spending continues. Meanwhile, long-end rates have broken through new highs. Risk assets are waking up to the reality that higher-for-longer is here to stay: spreads and volatility are widening too. This is exciting: higher volatility and dispersion are a great environment for credit selection. How far will central banks go in their fight against inflation? What will the next credit cycle be like, and which parts of the financial system are likely to break? Speakers Alberto Gallo, CIO & Co-founder, Andromeda Capital Management Aditya Aney, PM & Co-founder, Andromeda Capital Management Tao Pan, Head of Research, Andromeda Capital Management Moderator Hopewell Wood, Head of Business Development, Andromeda Capital Management