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Since the 2007/08 Global Financial Crisis, aggressive monetary easing, prolonged low interest rates and repeated policy backstops have compressed risk premia – but assessing the potential impact of credit spread normalisation is now critical for investors allocating to credit markets.
Read more: How might a normalisation of credit spreads impact returns?
Disappointing distributions, weak returns and a softer fundraising climate now appear to be putting real pricing power in investors’ hands. That is a key finding of the bfinance Private Market Fees and Costs 2026 snap poll. A large percentage of investors have observed a recent decline in fees for ‘like-for-like’ private market strategies, according to the survey of 84 LPs from around the globe.
Read more: bfinance poll: investors gain edge in private market fees
Private market secondaries are booming – but are they creating a welcome 'layer cake' of liquidity solutions, or a 'traffic jam' that postpones real exits? We explored this question in bfinance's inaugural Allocator Briefing podcast, with four of our senior researchers unpacking what's driving today's surge, where mispricing and misalignment can creep in, and what investors should watch out for.
Read more: Secondaries under scrutiny: layer cake or traffic jam?
A simultaneous sell‑off in equities and bonds made March 2026 an uncomfortable month for investors. As the Iranian conflict escalated into open war, oil prices jumped, short‑term inflation expectations shifted abruptly, and both asset classes fell together. For many, this rekindled an old and unsettling debate: can investors still rely on the negative correlation between equities and bonds for portfolio diversification?
Read more: Why investors can still rely on the negative equity/bond diversification free lunch
There has been considerable excitement in markets around the rollout of Germany’s new fiscal spending plans. Last year’s historic Bundestag vote to exempt defence and security expenditure from debt rules – alongside the creation of a €500 billion off‑budget infrastructure and climate‑neutrality fund – has been widely presented as a crucial step toward restoring the competitiveness of the German economy.
Read more: German infrastructure – what will it take to unlock domestic investment opportunities?
More Articles ...
- Global Infrastructure Survey – Three Takeaways as Broad Enthusiasm Gives Way to Selectivity and Precision
- The ‘GP Stakes’ Debate: Overlooked Opportunity or Canary in the Coalmine?
- Managing Currency Exposures in the ‘New World Disorder’
- Hedge Funds: Are Push and Pull Dynamics Coming into Rare Alignment?
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