January 27, 2025
As is often the case following periods of strong market performance, “bull market complacency” can creep in as investors lose sight of the fundamentals that anchor valuations. The extreme of this view is that the credit quality of each distinct issuer is irrelevant. At PPM, we strongly reject this point of view.
Here is what else you will find in today’s newsletter:
- Infographic: Let’s take a closer look at current conditions to gauge how likely the potential may be for M&A and IPO activity to flourish in 2025 and provide opportunities for investors.
- Private Equity: Although the consensus is for a bright 2025, now is not the time to forgo extensive underwriting and due diligence as certain PE tailwinds come with risk.
- Investment Grade: Heightened focus on political impacts as well as a more aggressive M&A landscape should provide chances for IG investors to put their money to work. We believe credit selection will likely be critical in 2025.
- High Yield: In our view, the supportive elements of the HY credit cycle should continue this year with fundamentals stabilizing and technicals remaining robust.
Unless otherwise stated, the information presented has been prepared from market observations and other sources believed in good faith to be reliable. Information and opinions expressed by PPM are current as of the date indicated and are subject to change without notice. Forward-looking statements are subject to uncertainties that could cause actual developments and results to differ materially from the expectations expressed.
Past performance is no guarantee of future results. Investments involve varying degrees of risk and may lose value.
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