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Dec
2021
By Matthew Lui, CFA, CAIA
Biden’s “Build Back Better Bill” has been brewing since back before the President’s inauguration. Its various iterations have included funding for COVID-19 relief, social services, welfare, infrastructure, and efforts to combat climate change. The means of funding the nearly $2 trillion in proposed spending has been a …

Oct
2021
By Poorvi Parekh, CFA
A robust macroeconomic backdrop, the decline in Delta variant cases, and a dovish Fed have supported the rally of global equity and risk assets. U.S. GDP grew by 12.2% for the year ending June 30. The very large stimulus plan that has been in place over the last 19 months has achieved its goal of helping the Federal Re…

Oct
2021
By Loren Asmus, CFA, CAIA
The private credit asset class has grown immensely since the Great Financial Crisis (GFC). In Part I of this blog series, we discuss the recent evolution of the lending market, define the below investment-grade (IG) universe and outline direct lending, which is a core component of private credit.