全球信贷策略_下半年展望 —— 不买账
2025-06-09 09:42
更多资料加入知识星球:水木调研纪要 关注公众号:水木Alpha Global Credit Strategy Fixed Income H2 outlook – Not buying it Global Reality check We are not chasing this rally. Momentum-style strategies do not usually work in credit. This is less about a large probability of spread widening, but rather the asymmetric payoffs that become increasingly skewed against investors' favour as spreads tighten. For every dollar of outperformance US credit offers, investors leave themselves exposed to USD1.5 of potential losses, and up to USD3 in ...