Notwithstanding tariffs, economists now view the chances of a recession fading. Source: WSJ Surveys of Economists

The share of wealth assets dedicated to private credit is on the rise. Source: FT, Oliver Wyman

Since Liberation Day, leveraged loan trading prices have slowly moved higher. Source: Bloomberg US Leveraged Loan Index

Since the 2021 peak, global M&A activity has been on the rebound. Source: LSEG

Through Covid and rate hikes, middle market loan issuance has tracked up. Source: LevFin Insights, a Fitch Solutions company

Private credit AUM expected to continue steady growth, driven by direct lending. Source: Fitch Ratings, Preqin

Japan’s long-dated bond yields have moved up sharply so far in 2025.  Source: The Daily Shot

Spreads for middle market CLOs are distributed higher than their BSL counterparts. Source: S&P Global Ratings

Since the Fed began its rate hike regime in March 2022, MM CLO activity has grown. Source: PitchBook

Since the early 1800’s, tariff’s share of US government revenues has shrunk dramatically. Source: The Cato Institute