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Lisa Abramowicz, journalist and co-host on Bloomberg TV/Radio, reports that it is historically a tough time to be in credit, citing commentary from GoldenTree's Tananbaum who notes stocks often outperform in times of higher inflation.
Tananbaum also observes there is better value in private credit today compared with the last 24–36 months.
Abramowicz has recently tracked the momentum in equities, noting the current nine-week U.S. stock market rally is the longest since 2023 and may soon set a new multi-decade record if it extends to a tenth week. Separately, she has reported on energy supply concerns as Chevron's Mike Wirth warned that oil shortages and higher U.S. gasoline prices could be imminent in the coming weeks. Both developments provide context for recent commentary about shifting value across asset classes.