Surveillance: 3% GDP with Matus
Bloomberg Surveillance
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The Market's Complacent View on the Progression of the Economy
Apollo's core view is that there won't be a recession this year in the US. But at the moment, I think there isn't really a consensus on the trajectory of the economy and how bad it will be next year. So we don't think it pays to take the risk further down the credit spectrum. The Fed hike again this week could potentially warm our market up - but we need more data to see whether it comes through or not. We're being very nimble and we're stirring clear of too much duration risk,. Although we have added a little bit there.
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