BlackRock's Keenan: Credit Market Adjusting for Growth Pickup

The transcript discusses the current state of the market, highlighting increased conviction in near-term growth due to vaccine rollout and economic stimulus. It notes the market's adjustment to expected GDP growth and the potential for upside. The conversation also touches on the tightness of financial markets, questioning whether the exuberance is justified. It concludes with an analysis of spreads and the expected returns from high yield loans and bank loans over the next year.

What changes have occurred in the financial markets compared to the bleak period of last year?

Discuss the implications of high yield loans and their expected returns over the next 12 months.