Amid hope that COVID-19 vaccines drive immunity and enliven economic activity, investors are starting to wonder what happens when 'whatever it takes' fiscal and monetary policy gives way to an unwinding of bold actions. But that may not happen anytime soon.
With initial credit market adjustments to the pandemic behind us, Vanguard's credit analysts outline further opportunities for active management to add value, including within some of the more COVID-affected sectors.
Amid the COVID-19 pandemic, the International Monetary Fund lowered its forecast for growth in emerging and developing economies for both 2020 and 2021. The way out won't be easy. But not all is lost for emerging markets.
The low-interest-rate environment is a favorable backdrop for developed markets to retire pandemic-related debt. Central banks, meanwhile, may soon provide guidance on how they'll start unwinding assets.