Performing Credit Quarterly 1Q2023: Flight Risk
The Insight by Oaktree Capital
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The Credit Pickers Market in 1Q2023
The risk of widespread defaults in 2023 remains low. Issuers' fundamentals are fairly healthy despite the slowdown in economic growth. Near-term maturities are minimal following the wave of refinancings in 2020-2021. The US default rate over the last 12 months was only 1.3%. We believe we're in a credit pickers market, and that dispersion by sector and issuer is likely to increase moving forward.
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