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Michael A. Gayed said that the macro setup is aligning with his thesis and suggested that now may be the time to consider credit rotation.
Gayed noted that both he and the market have been tested but remain present, adding that those who have ever considered credit rotation may find the current environment favorable.
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Gayed has previously highlighted periods of market stress, noting that the S&P 500 fell 19.35% during the Q4 2018 backtest. He also observed that high yield credit spreads reached 343 basis points as of November 2, above the 12-month low. These insights reflect his ongoing focus on credit markets and risk.