Credit set to repeat outperformance of theearly 1990s

As global markets slowly recover from the their recent lows, corporate bonds are likely to outperform, just as they did following the recession of the early1990s

History has a knack of repeating itself ' or so they say. Over the past few months, the financial press has been filled with a raft of stories quoting previous market downturns and the events that followed. It is obviously a dangerous game to suppose that what occurred before will automatically do so again. Yet history can be our friend for no other reason than that it stimulates speculation on what might happen in the future, based on what has happened in the past. During 1990 and 1991, the UK was in the grip of a recession. Equities suffered but rebounded handsomely over the next fe...