John Cortese

With AI-driven disruption, geopolitical events and other dynamics in play, what looked like a more straightforward buyer’s market just months ago has evolved into a more nuanced market defined by dispersion, complexity and the need for deeper underwriting.

In this episode of The View From Apollo, we introduce Convergence, a new recurring series featuring a running conversation about the evolution and integration of public and private credit markets. In today’s show,  Brian and John debate how the macro situation, liquidity trends and other factors are affecting allocations and investment decisions at a time of unprecedented change in global credit markets.

For much of the year, markets were supported by solid fundamentals and strong technicals: limited new issuance, resilient growth, and steady demand from investors seeking yield. Even April’s bout of volatility faded almost as quickly as it appeared, a sign of the deep liquidity underpinning credit markets. Later in the year, M&A activity rebounded.