📑 Research Notes for 2022-11-28
This week, we look at the possibility of widening credit spreads, bond performance in a recessionary environment, current equity risk premiums and historical liquidity across asset classes.
We conduct extensive investment research and share the most interesting content that we come across every week. Here is a curated list of this week’s top observations.
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Credit Spreads to Widen in 2023.
Armen Panossian, Oaktree's head of performing credit and Oaktree Specialty Lending Corp. CEO, says there are investment opportunities in higher quality high-yield bonds during an interview with Jonathan Ferro on "Bloomberg The Open."
🔗 Source
Recession Will Cause Bonds to Outperform.
Erin Browne, multi-asset strategy portfolio manager at Pacific Investment Management Co. (Pimco), says easing financial conditions creates "a little bit of a pickle" for Federal Reserve monetary policy.
🔗 Source
U.S. Equity Risk Premium At Historical Averages.
🔗 Source: Societe Generale
The Periodic Table of Asset Classes.
This is a representation of nine asset classes grouped from most liquid to least liquid. The financial instruments on the left are most readily converted into cash without affecting their market price. The financial instruments on the right cannot readily be converted into cash without a substantial loss in value.
🔗 Source
Last Week’s Market Performance Heatmap
🔗 Source
Curated by Joseph Lu, CFA®
Joseph is the founder and a managing director of Conscious Capital Advisors, as well as a CFA® Charterholder.
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The information presented in this newsletter is for educational purposes only and is not a solicitation or recommendation for any specific security, product, service, or investment strategy.
Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with a qualified financial advisor, tax professional, or attorney before implementing any strategy or recommendation you may read here.