Correlation Nation: Private Credit…and Everything Else

We continue our special series with the second of our “Five Biggest Private Capital Surprises of 2020:”

Surprise #2: Non-Correlated Trends – Infections, Markets, and the Economy

At their lowest moments in the Global Financial Crisis and the Global Biological Crisis, financial markets swooned in synch as investors found no safe havens. Bad news sunk everything. To paraphrase Tolstoy, happy markets are happy in different ways; unhappy markets are alike…

▶︎ Read Jan 18 2021 newsletter: here

▶︎ Chart of the Week: here (by S&P LCD, LSTA)