The first quarter was a rollercoaster for global credit markets with a severe, homogeneous sell-off, followed by a sharp, if more modest, central bank-induced recovery.
Just 10% of investors anticipate V-shaped recovery
Up to 13.7% default rate
Fixed income responsible for over 90% of net inflows
European equities have declined 26% during 2020 owing to the rapid spread of the Covid-19 pandemic. Consequently, economic activity indices have declined to multi-year lows.