Guggenheim's Walsh: Recession Coming in Middle of 2023

The video discusses the anticipated recession in the US and its impact on credit markets. It highlights the Federal Reserve's quantitative tightening and rate hikes, which are expected to affect credit availability and increase risks, especially for low-rated credits and zombie companies. The shift from a QE to a QT world is emphasized, affecting companies' access to capital. The video also explores the challenges in private credit markets, noting the lack of transparency and potential issues due to past quantitative easing.

What indicators suggest that credit may become riskier as the recession progresses?

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What challenges does private credit face in terms of transparency and decision-making?

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