"We think a thorough understanding of credit cycle dynamics will enable us to form expectations of what lies ahead and, most important, to make informed investment decisions.”
— Sébastien Mc Mahon, Adil Mahroug & Tuyen Tran, iAGAM
Highlights:
- The business cycle is composed of several sub-cycles and the credit cycle is the most important
- The primary consequence of the U.S. banking turmoil could be an abrupt end to the credit cycle
- We remain underweight U.S. equities and high yield bond
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Sébastien Mc Mahon, MA, PRM, CFA
Chief Strategist, Senior Economist and Vice-President, Asset Allocation & Portfolio Manager
Adil Mahroug, M. Sc.
Senior Strategist and Director, Asset Allocation
