Covid-19 and the Labor Market
The Bank of England has projected the COVID-19 pandemic will cause GDP for the UK to decline 14% this year. That’s the worst economic performance in three centuries.
In 1706 (when the Bank of England was twelve years old) Great Britain was a very different place: devastated by wars and weather, the union with Scotland still a year away, and Twinings producing its first tea bag.
Fast forward, across the pond the US economy has also been slammed with shocking labor numbers. Unemployment went from 3.7% at year-end 2019 to 14.7% today. And worsening…
▶︎ Read May 11 2020 newsletter: here
▶︎ Chart of the Week: here (Source: BLS, St.Louis Fred, S&P Global Economics; S&P Global Ratings)
Latest news
Top 50 BDCs Accounted for 75% of Nonaccrual Loan Cost in Q2’26
The 50 largest BDCs, on the basis of total debt investments as of the second quarter of 2026, accounted for 75% of the total aggregate reported value of nonaccrual debt at cost and fair value.
US private debt AUM ($B) by channel
In 2025 and the early part of 2026, the retail channel added AUM to the asset class at a much faster rate than institutional investors in both regions, with growth rates of 43.7% globally, 41.4% in the US, and 73. 1% in Europe through the beginning of 2026 compared with year-end 2024 figures.
