Defensive Versus Cyclical: The Blurring Lines

Pimco
By March 4, 2019 14:02

Defensive Versus Cyclical: The Blurring Lines

Viewpoint11

For credit investors, the equity market can be an important source of information about growth expectations, and at times can serve as a leading indicator. However, recent developments in some defensive sectors – traditionally favored by equity and credit investors alike during periods of slowing growth – have led to a decline in credit quality. At the same time, some cyclical sectors, which are typically favored in higher-growth environments, have improved in credit quality.

Pimco
By March 4, 2019 14:02

SEARCH