2009 - the year of credit?

What the year ahead may bring for fixed income investors

2008 turned out to be a year investors would like to forget, but instead will vividly remember. The seminal event appears to have been Lehman Brothers' bankruptcy in September, which caused a massive blow to confidence. This resulted in the freezing up of liquidity across all markets and the near collapse of the financial system. The effect on the real economy has been particularly severe and a global recession is now underway. In response, monetary and fiscal policy, efforts to fight off systemic collapse and growing deflationary forces have become increasingly aggressive. Unprecedented ...