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Summary:

With cash locked up at the front-end, duration proving painful to portfolios, and investors (still) waiting for a recession, corporate credit posted another year of mixed performance in 2023.

The US Strategy team provides their outlook for the US IG and crossover markets in 2024, informed by lessons learned in recent years, expectations for the Fed, and economic forecasts. Topics include the current and future state of corporate balance sheets, the outlook for demand from retail, institutional and global investors, and top investment recommendations to start the year.