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Oct
2021
By Poorvi Parekh, CFA
A robust macroeconomic backdrop, the decline in Delta variant cases, and a dovish Fed have supported the rally of global equity and risk assets. U.S. GDP grew by 12.2% for the year ending June 30. The very large stimulus plan that has been in place over the last 19 months has achieved its goal of helping the Federal Re…

Oct
2021
By Loren Asmus, CFA, CAIA
The private credit asset class has grown immensely since the Great Financial Crisis (GFC). In Part I of this blog series, we discuss the recent evolution of the lending market, define the below investment-grade (IG) universe and outline direct lending, which is a core component of private credit.

Aug
2021
By Matthew Lui, CFA, CAIA
In our last post, we covered the basics of blockchain technology. This time, we will dive into the electrifying topic of blockchain consensus mechanisms. First, we will define consensus mechanisms. Then, we will give an overview of the two main ones: Proof-of-Work and Proof-of-Stake. Lastly, we will conclude with why t…