The View From Apollo Convergence: The Integration and Evolution of Credit Markets
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Jan 22, 2026 Dive into the dynamic world of credit markets as the hosts explore the historic shift between public and private sectors. They debate the importance of macroeconomic drivers and how investment-grade issuance is reshaping the landscape. The discussion also covers the growing trend of direct lending and the nuances of liquidity in today's market. With highlights on identifying value through short-duration carry and the role of AI as a cross-asset risk factor, this conversation offers a fresh perspective on modern investing strategies.
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Macro Regains Dominance
- Macro will matter more in 2026 as yield curves steepen and volatility rises across rates and credit.
- Expect higher dispersion and harder decisions for investors as rate and fiscal dynamics reshape markets.
IG Market Is Undergoing A Historic Shift
- Investment-grade issuance from large corporates is reshaping the IG market with long-dated, high-quantity supply.
- That issuance can compress spreads and force rethinking of portfolio construction and relative value.
Public And Private Credit Converge
- Public and private credit are converging as companies and investors exploit different funding attributes.
- This convergence is early-stage and requires origination control to capture opportunities.