High-yield markets may appear calm, with spreads near multi-decade tights but beneath the surface, the picture is far more complex. Ellie Clapton, Investment Director, and Darpan Harar, Co-Head of Specialist Credit, explore how higher rates and AI-driven disruption are reshaping credit markets. As dispersion widens and risks become more company-specific, they discuss what investors need to know and why success in today’s environment depends on selective, bottom-up credit investing rather than broad market exposure.
