
Monetary policy and financial stability
Center For Investment Excellence
The Devil Was in the Details
The first couple of years of the yield curve are still paying you pretty attractive returns right now. The investors who got blown up on credit Swiss's AT1 debt did not bother to understand that Swiss AT1s were different than the AT1s issued in the rest of Europe. Even companies that appeared stable three months ago may not look stable. You can underwrite for liquidity, for cash flow coverage and understanding what you own.
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