Global

Dividend growth far outweighed profit growth in 2019

Includes quasi-sovereigns and special situations

Delegated to Dolan McEniry

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.

Record outflows in March

Sector unlikely to be cause of any impending financial crisis

The global spread of the coronavirus led to a simultaneous shock on both the supply and the demand side of the affected economies.