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Our views 09 November 2020

Covid-19 global credit investment update: the worst case scenario?

By Azhar Hussain, Head of Global Credit

5 min read

Did we just get the worst case scenario in the U.S. election? A closely contested Presidency which now has been called but litigation risk remains and a Senate which didn’t flip so ensuring no easy path to Fiscal stimulus.

Oh and we have a resurgence of lockdowns in Europe and a hard Brexit (still) on the table, yet our markets reacted to all of this with incredible calm.

The events of last week are unremarkable to us because credit markets are underpinned by continued central bank support, and with the BOE the latest to expand its QE program, we see this continuing well until the pandemic dissipates.

Read in full: Covid-19 global credit update